Proficio Capital Partners LLC purchased a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,523 shares of the technology company's stock, valued at approximately $704,000.
Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Match Group by 2.3% during the third quarter. State Street Corp now owns 17,672,611 shares of the technology company's stock valued at $668,732,000 after purchasing an additional 391,977 shares in the last quarter. Starboard Value LP purchased a new position in Match Group during the third quarter valued at $361,605,000. Pacer Advisors Inc. lifted its holdings in Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after purchasing an additional 939,078 shares in the last quarter. FMR LLC lifted its holdings in Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company's stock valued at $209,668,000 after purchasing an additional 524,144 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Match Group by 37.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,486,837 shares of the technology company's stock valued at $81,344,000 after purchasing an additional 683,132 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Match Group
In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.77% of the company's stock.
Match Group Price Performance
Shares of MTCH stock traded down $0.67 during trading on Tuesday, reaching $31.36. The company's stock had a trading volume of 4,387,489 shares, compared to its average volume of 5,068,537. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 0.82 and a beta of 1.45. The stock's 50-day moving average price is $33.14 and its 200 day moving average price is $34.27. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84.
Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates 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, sell-side analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.
Match Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.
Match Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a $0.19 dividend. 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 (DPR) is currently 37.62%.
Analysts Set New Price Targets
Several research firms have issued reports on MTCH. Evercore ISI downgraded shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price objective on the stock. in a report on Thursday, February 6th. Piper Sandler reaffirmed an "overweight" rating and set a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. HSBC downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. 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 issued a buy rating to the company. According to MarketBeat.com, Match Group has an average rating of "Hold" and an average target price of $37.68.
Get Our Latest Stock Report on MTCH
Match Group Profile
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Free Report)
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.
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