Match Group, Inc. (NASDAQ:MTCH) Position Trimmed by Schroder Investment Management Group

Schroder Investment Management Group cut its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 2.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,337,993 shares of the technology company's stock after selling 62,378 shares during the period. Schroder Investment Management Group owned approximately 0.93% of Match Group worth $76,686,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Starboard Value LP purchased a new position in shares of Match Group in the third quarter valued at $361,605,000. Norges Bank purchased a new position in Match Group in the 4th quarter valued at about $112,176,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Match Group by 110.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock valued at $183,968,000 after acquiring an additional 2,952,470 shares in the last quarter. DnB Asset Management AS increased its holdings in Match Group by 4,659.2% during the 4th quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company's stock worth $62,643,000 after purchasing an additional 1,874,853 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Match Group by 2,732.1% in the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock valued at $62,804,000 after acquiring an additional 1,601,115 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and issued a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Evercore ISI lowered Match Group from an "outperform" rating to an "inline" rating and set a $35.00 target price for the company. in a research report on Thursday, February 6th. UBS Group lowered their price target on Match Group from $38.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, December 12th. Royal Bank of Canada restated an "outperform" rating and set a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Finally, Bank of America boosted their target price on shares of Match Group from $35.00 to $36.00 and gave the company a "neutral" rating in a research note 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. Based on data from MarketBeat.com, Match Group has an average rating of "Hold" and an average price target of $37.68.

Match Group Stock Down 4.3 %

Match Group stock traded down $1.30 during mid-day trading on Friday, hitting $28.89. The company's stock had a trading volume of 3,679,930 shares, compared to its average volume of 4,907,269. The stock has a market capitalization of $7.23 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The stock's fifty day moving average price is $32.71 and its two-hundred day moving average price is $33.68.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Equities analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Thursday, April 3rd. Match Group's payout ratio is 37.62%.

Match Group announced that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of the firm's 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 of the company's stock, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.77% of the stock is currently 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.