Glenview Trust co Cuts Holdings in Match Group, Inc. (NASDAQ:MTCH)

Glenview Trust co trimmed its holdings in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,300 shares of the technology company's stock after selling 21,951 shares during the quarter. Glenview Trust co's holdings in Match Group were worth $1,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in shares of Match Group by 133.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 36,183 shares of the technology company's stock worth $1,184,000 after purchasing an additional 20,713 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Match Group by 43.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,158,785 shares of the technology company's stock valued at $70,614,000 after buying an additional 650,593 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Match Group by 35.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 110,271 shares of the technology company's stock valued at $3,616,000 after buying an additional 28,944 shares during the period. Erste Asset Management GmbH grew its stake in Match Group by 12.1% in the 4th quarter. Erste Asset Management GmbH now owns 53,463 shares of the technology company's stock worth $1,773,000 after acquiring an additional 5,792 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its position in shares of Match Group by 1.6% during the fourth quarter. Achmea Investment Management B.V. now owns 144,348 shares of the technology company's stock worth $4,722,000 after acquiring an additional 2,221 shares during the period. 94.05% of the stock is owned by institutional investors.

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Match Group Stock Down 0.7 %

Shares of Match Group stock traded down $0.23 on Thursday, reaching $31.21. 2,959,032 shares of the stock were exchanged, compared to its average volume of 4,660,135. The business has a 50 day moving average price of $32.94 and a two-hundred day moving average price of $34.03. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. Research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's dividend payout ratio is currently 37.62%.

Match Group announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley boosted their price target on Match Group from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. HSBC downgraded Match Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. New Street Research cut shares of Match Group from a "buy" rating to a "neutral" rating in a report on Monday, December 16th. Bank of America upped their price target on shares of Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Finally, Truist Financial cut their price objective on shares of Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Match Group currently has an average rating of "Hold" and an average target price of $37.68.

Insider Buying and Selling at Match Group

In related news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares of the company's stock, valued at $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.77% of the company's stock.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.