Penn Davis Mcfarland Inc. Acquires 8,414 Shares of Match Group, Inc. (NASDAQ:MTCH)

Penn Davis Mcfarland Inc. raised its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 478,913 shares of the technology company's stock after purchasing an additional 8,414 shares during the quarter. Match Group accounts for 1.7% of Penn Davis Mcfarland Inc.'s investment portfolio, making the stock its 21st biggest holding. Penn Davis Mcfarland Inc. owned about 0.19% of Match Group worth $15,665,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock worth $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Match Group during the third quarter valued at approximately $31,000. Quarry LP lifted its stake in Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company's stock valued at $40,000 after acquiring an additional 461 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in Match Group in the third quarter valued at approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company's stock worth $70,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Stock Up 0.1 %

MTCH traded up $0.02 during midday trading on Monday, reaching $32.74. 4,687,219 shares of the company's stock were exchanged, compared to its average volume of 3,637,489. Match Group, Inc. has a one year low of $27.66 and a one year high of $39.91. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. The business has a 50-day simple moving average of $32.15 and a two-hundred day simple moving average of $34.48.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, January 6th. Match Group's dividend payout ratio is 33.93%.

Match Group declared that its board has approved a share buyback plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

MTCH has been the subject of a number of analyst reports. UBS Group reduced their price target on Match Group from $38.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price objective (down from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Susquehanna lowered their target price on shares of Match Group from $45.00 to $40.00 and set a "positive" rating on the stock in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $33.00 target price (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.72.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 801 shares of the business's stock in a transaction on Friday, November 22nd. The shares were 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 in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.77% of the company's stock.

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.