Sumitomo Mitsui Trust Group Inc. Decreases Position in Match Group, Inc. (NASDAQ:MTCH)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 486,316 shares of the technology company's stock after selling 11,611 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Match Group worth $15,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MTCH. Venturi Wealth Management LLC raised its position in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock worth $27,000 after purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Match Group in the 3rd quarter worth $31,000. Northwest & Ethical Investments L.P. purchased a new position in Match Group in the 3rd quarter worth $57,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Match Group by 433.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company's stock worth $70,000 after purchasing an additional 1,500 shares during the period. Finally, Solstein Capital LLC purchased a new position in Match Group in the 3rd quarter worth $87,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Price Performance

NASDAQ:MTCH traded up $0.68 during mid-day trading on Friday, hitting $34.69. 4,673,098 shares of the company's stock were exchanged, compared to its average volume of 4,414,033. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The business has a fifty day moving average price of $33.13 and a 200 day moving average price of $34.68. The company has a market cap of $8.71 billion, a PE ratio of 17.17, a P/E/G ratio of 1.14 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%. On average, equities analysts forecast that Match Group, Inc. will post 2.49 EPS for the current fiscal year.

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 paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's payout ratio is currently 37.62%.

Match Group declared that its Board of Directors has initiated a stock 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 purchase up to 19% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on MTCH shares. Bank of America lifted their target price on shares of Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. StockNews.com lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Friday, November 15th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $33.00 price target (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Loop Capital cut their price target on shares of Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Finally, Hsbc Global Res lowered shares of Match Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Match Group presently has an average rating of "Hold" and an average target price of $37.68.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares of the company's stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is currently owned by insiders.

About Match Group

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.