Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,328,984 shares of the technology company's stock after selling 342,388 shares during the quarter. Vanguard Group Inc. owned about 12.08% of Match Group worth $992,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MTCH. Itau Unibanco Holding S.A. bought a new position in shares of Match Group in the third quarter valued at $31,000. Northwest & Ethical Investments L.P. bought a new position in Match Group in the 3rd quarter valued at about $57,000. Quarry LP lifted its position in Match Group by 126.3% in the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company's stock valued at $112,000 after acquiring an additional 1,651 shares in the last quarter. Assetmark Inc. boosted its stake in Match Group by 14.2% during 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. Finally, Principal Securities Inc. increased its holdings in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock worth $107,000 after purchasing an additional 2,652 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by insiders.

Remove Ads

Match Group Stock Performance

Shares of MTCH traded down $0.02 during mid-day trading on Wednesday, hitting $31.39. 461,113 shares of the company's stock were exchanged, compared to its average volume of 4,870,723. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 0.82 and a beta of 1.49. The stock's 50-day moving average is $32.80 and its 200-day moving average is $33.72.

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 the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. As a group, equities research analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Match Group Announces Dividend

The business also recently declared 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's dividend payout ratio is currently 37.62%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. HSBC lowered Match Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $33.00 price objective (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Hsbc Global Res lowered shares of Match Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. Loop Capital cut their target price on Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price target on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Match Group has an average rating of "Hold" and an average price target of $37.68.

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.