Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC reduced its stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,565 shares of the technology company's stock after selling 10,545 shares during the period. Match Group accounts for 2.2% of Minneapolis Portfolio Management Group LLC's holdings, making the stock its 25th biggest holding. Minneapolis Portfolio Management Group LLC owned about 0.21% of Match Group worth $17,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MTCH. Starboard Value LP bought a new stake in shares of Match Group in the 3rd quarter valued at about $361,605,000. Retirement Systems of Alabama grew its stake in Match Group by 2,732.1% during the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock worth $62,804,000 after buying an additional 1,601,115 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Match Group during the 4th quarter valued at about $45,768,000. Sound Shore Management Inc. CT purchased a new stake in Match Group in the fourth quarter valued at about $39,962,000. Finally, Seizert Capital Partners LLC boosted its holdings in Match Group by 468.6% in the fourth quarter. Seizert Capital Partners LLC now owns 1,481,967 shares of the technology company's stock worth $48,475,000 after acquiring an additional 1,221,347 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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Match Group Price Performance

Shares of MTCH stock traded down $1.21 during trading hours on Friday, hitting $30.63. The company had a trading volume of 3,651,047 shares, compared to its average volume of 4,861,089. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The company's fifty day moving average is $32.86 and its 200 day moving average is $33.80. The stock has a market capitalization of $7.67 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings results 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%. Equities analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current year.

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

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.48%. Match Group's dividend payout ratio (DPR) is 37.62%.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of the business's stock in a transaction on 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 completion of the transaction, the president now directly owns 1,690 shares of the company's stock, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America raised their price target on shares of Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Stifel Nicolaus reduced their price target on Match Group from $36.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. HSBC lowered shares of Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Barclays dropped their price target on shares of Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Finally, New Street Research lowered Match Group from a "buy" rating to a "neutral" rating in a research note on Monday, December 16th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.