3,429,397 Shares in Match Group, Inc. (NASDAQ:MTCH) Acquired by Norges Bank

Norges Bank bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,429,397 shares of the technology company's stock, valued at approximately $112,176,000. Norges Bank owned 1.37% of Match Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Match Group in the 3rd quarter valued at approximately $31,000. Assetmark Inc. grew its stake 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 acquiring an additional 378 shares during the last quarter. 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 valued at $107,000 after acquiring an additional 2,652 shares in the last quarter. Quarry LP raised its position in Match Group by 126.3% during the third quarter. Quarry LP now owns 2,958 shares of the technology company's stock worth $112,000 after acquiring an additional 1,651 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Match Group in the fourth quarter valued at approximately $116,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in 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. Barclays lowered their target price 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. Hsbc Global Res lowered Match Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. HSBC downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, New Street Research downgraded shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $37.68.

Remove Ads

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.77% of the company's stock.

Match Group Trading Down 4.1 %

Match Group stock traded down $1.29 during mid-day trading on Thursday, reaching $30.18. The company's stock had a trading volume of 7,911,671 shares, compared to its average volume of 4,911,685. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The business has a 50 day moving average price of $32.78 and a 200-day moving average price of $33.70. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate 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 analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The business 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, April 3rd. Match Group's payout ratio is 37.62%.

Match Group announced that its board has authorized a share buyback program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

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.