Prudential Financial Inc. Has $4.48 Million Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Prudential Financial Inc. cut its holdings in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,477 shares of the technology company's stock after selling 28,201 shares during the period. Prudential Financial Inc. owned approximately 0.05% of Match Group worth $4,478,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its stake in Match Group by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock valued at $358,000 after acquiring an additional 318 shares during the period. Cornerstone Investment Partners LLC raised its stake in shares of Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company's stock valued at $520,000 after acquiring an additional 349 shares during the last quarter. Assetmark Inc. raised its position in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Match Group by 10.1% during the 4th quarter. TD Private Client Wealth LLC now owns 7,172 shares of the technology company's stock worth $235,000 after acquiring an additional 657 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in shares of Match Group by 17.2% in the third quarter. Prestige Wealth Management Group LLC now owns 5,128 shares of the technology company's stock valued at $194,000 after purchasing an additional 753 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

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Insider Activity

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

Match Group Price Performance

Shares of NASDAQ MTCH traded down $0.85 during mid-day trading on Friday, hitting $29.33. 3,220,654 shares of the stock traded hands, compared to its average volume of 4,905,591. The company has a market cap of $7.35 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. The firm has a 50 day simple moving average of $32.71 and a two-hundred day simple moving average of $33.68. 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 posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. On average, equities research analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group announced that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.59%. Match Group's dividend payout ratio (DPR) is currently 37.62%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Match Group from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. restated a "neutral" rating and set a $33.00 target price (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a research report on Thursday, December 12th. Hsbc Global Res lowered Match Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price target on shares of Match Group in a research note on Monday, December 9th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Match Group presently has a consensus rating of "Hold" and an average target price of $37.68.

Match Group 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.