Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its holdings in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,385 shares of the technology company's stock after selling 9,847 shares during the period. Sei Investments Co. owned about 0.09% of Match Group worth $7,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC grew its position in Match Group by 10.1% in the fourth quarter. TD Private Client Wealth LLC now owns 7,172 shares of the technology company's stock worth $235,000 after acquiring an additional 657 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in Match Group by 32.6% in the fourth quarter. iA Global Asset Management Inc. now owns 45,687 shares of the technology company's stock worth $1,494,000 after purchasing an additional 11,222 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Match Group during the fourth quarter worth $7,091,000. Commonwealth Equity Services LLC raised its holdings in Match Group by 133.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 36,183 shares of the technology company's stock valued at $1,184,000 after buying an additional 20,713 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Match Group by 43.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,158,785 shares of the technology company's stock worth $70,614,000 after buying an additional 650,593 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Remove Ads

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction dated 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 sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Match Group Price Performance

Shares of Match Group stock traded down $1.10 during trading hours on Thursday, reaching $30.18. The company's stock had a trading volume of 7,911,445 shares, compared to its average volume of 4,902,575. The stock has a market cap of $7.56 billion, a P/E ratio of 14.94, a P/E/G ratio of 0.82 and a beta of 1.49. The firm has a 50 day moving average price of $32.78 and a 200-day moving average price of $33.70. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. As a group, sell-side analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group announced that its Board of Directors 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 buy 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.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's payout ratio is 37.62%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MTCH. Evercore ISI downgraded Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target on the stock. in a research report on Thursday, February 6th. Loop Capital decreased their price objective on Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. Bank of America increased their price objective on shares of Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Finally, HSBC lowered Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $37.68.

Match Group 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.