Sumitomo Mitsui DS Asset Management Company Ltd Sells 10,191 Shares of Match Group, Inc. (NASDAQ:MTCH)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,187 shares of the technology company's stock after selling 10,191 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Match Group were worth $987,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its stake in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock valued at $27,000 after buying an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Match Group in the third quarter valued at about $31,000. Northwest & Ethical Investments L.P. acquired a new stake in Match Group in the third quarter valued at about $57,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company's stock valued at $70,000 after buying an additional 1,500 shares in the last quarter. Finally, Solstein Capital LLC acquired a new stake in Match Group in the third quarter valued at about $87,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Trading Up 2.0 %

Shares of MTCH stock traded up $0.68 on Friday, hitting $34.69. 4,673,098 shares of the stock were exchanged, compared to its average volume of 4,414,033. The firm has a market capitalization of $8.71 billion, a PE ratio of 17.17, a P/E/G ratio of 1.14 and a beta of 1.45. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The firm's 50 day moving average is $33.13 and its two-hundred day moving average is $34.68.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. On average, sell-side analysts expect that Match Group, Inc. will post 2.49 earnings per share for the current year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. Match Group's dividend payout ratio (DPR) is 37.62%.

Match Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company reduced their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 12th. UBS Group cut their price target on Match Group from $38.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, December 12th. New Street Research lowered Match Group from a "buy" rating to a "neutral" rating in a research note on Monday, December 16th. Piper Sandler reissued an "overweight" rating and set a $40.00 price target on shares of Match Group in a research note on Thursday, December 12th. Finally, Barclays cut their price target on Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $37.68.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now owns 12,398 shares of the company's stock, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.77% of the stock is currently owned by insiders.

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.