Match Group, Inc. (NASDAQ:MTCH) Stake Boosted by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. boosted its holdings in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 716.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,254,933 shares of the technology company's stock after acquiring an additional 4,611,598 shares during the period. Mawer Investment Management Ltd. owned 2.09% of Match Group worth $171,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in Match Group during the 3rd quarter worth about $31,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group during the 3rd quarter worth about $57,000. Assetmark Inc. grew its holdings in shares of Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after buying an additional 378 shares in the last quarter. Principal Securities Inc. raised its position in shares of Match Group by 420.3% in the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock valued at $107,000 after buying an additional 2,652 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Match Group by 126.3% during the third quarter. Quarry LP now owns 2,958 shares of the technology company's stock valued at $112,000 after buying an additional 1,651 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Performance

Shares of NASDAQ MTCH traded down $0.37 during midday trading on Thursday, reaching $30.91. 2,566,289 shares of the company's stock were exchanged, compared to its average volume of 4,882,359. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The business's fifty day moving average price is $32.78 and its two-hundred day moving average price is $33.70. The stock has a market capitalization of $7.74 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49.

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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 (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%. Analysts predict 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 stock buyback plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.46%. Match Group's dividend payout ratio (DPR) is 37.62%.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated 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 transaction, the president now owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.77% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on MTCH shares. Stifel Nicolaus cut their price target on Match Group from $36.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $33.00 target price (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price target (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Barclays dropped their price objective on shares of Match Group from $53.00 to $52.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Piper Sandler reissued an "overweight" rating and issued a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $37.68.

About Match Group

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.