Proficio Capital Partners LLC purchased a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) in the 4th quarter, according to its most recent 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.
A number of other large investors also recently modified their holdings of MTCH. State Street Corp increased its holdings in Match Group by 2.3% in the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company's stock worth $668,732,000 after purchasing an additional 391,977 shares in the last quarter. Starboard Value LP bought a new stake in shares of Match Group during the third quarter worth about $361,605,000. Pacer Advisors Inc. increased its stake in shares of Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after buying an additional 939,078 shares during the period. FMR LLC raised its holdings in Match Group by 10.4% in the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company's stock valued at $209,668,000 after buying an additional 524,144 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Match Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock worth $87,267,000 after buying an additional 69,947 shares during the period. 94.05% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred 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 transaction, the president now owns 1,690 shares of the company's stock, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.77% of the company's stock.
Match Group Stock Performance
Shares of NASDAQ MTCH traded up $0.56 during midday trading on Wednesday, hitting $31.83. 4,554,541 shares of the stock traded hands, compared to its average volume of 4,677,456. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The business has a 50 day moving average price of $32.92 and a two-hundred day moving average price of $33.86. The company has a market cap of $7.97 billion, a PE ratio of 15.76, a P/E/G ratio of 0.82 and a beta of 1.45.
Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS 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%. As a group, equities research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.
Match Group declared that its board has initiated a share buyback program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Match Group Dividend Announcement
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 issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, April 3rd. Match Group's dividend payout ratio is currently 37.62%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. HSBC downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Jefferies Financial Group reaffirmed a "hold" rating and set a $32.00 target price (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Truist Financial reduced their price target on Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a research report on Thursday, December 12th. UBS Group lowered their price objective 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. Finally, Loop Capital decreased their target price on shares of Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Match Group currently has a consensus rating of "Hold" and an average price target of $37.68.
View Our Latest Research Report on MTCH
About Match Group
(
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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