River Global Investors LLP Sells 32,846 Shares of Match Group, Inc. (NASDAQ:MTCH)

River Global Investors LLP reduced its holdings in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 39.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,536 shares of the technology company's stock after selling 32,846 shares during the quarter. River Global Investors LLP's holdings in Match Group were worth $1,621,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTCH. Venturi Wealth Management LLC grew its position in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock worth $27,000 after buying an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Match Group in the 3rd quarter worth approximately $31,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group in the 3rd quarter worth approximately $57,000. Quarry LP grew its holdings in shares of Match Group by 126.3% during the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company's stock worth $112,000 after purchasing an additional 1,651 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after purchasing an additional 378 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MTCH shares. Truist Financial decreased their target price on shares of Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a research report on Thursday, December 12th. Morgan Stanley lifted their price objective on Match Group from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Loop Capital lowered their price objective on Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada restated an "outperform" rating and set a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. Finally, Bank of America upped their price target on Match Group from $35.00 to $36.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $37.68.

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Match Group Price Performance

NASDAQ:MTCH traded down $0.62 during trading hours on Wednesday, hitting $30.74. The company had a trading volume of 3,219,940 shares, compared to its average volume of 5,027,808. The stock has a 50-day moving average price of $33.14 and a 200 day moving average price of $34.27. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84. The company has a market capitalization of $7.70 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 574.22% and a net margin of 15.84%. Analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Thursday, April 3rd. Match Group's dividend payout ratio (DPR) is 37.62%.

Match Group announced that its Board of Directors has approved a stock buyback 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by insiders.

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.