Teacher Retirement System of Texas Acquires Shares of 216,771 Match Group, Inc. (NASDAQ:MTCH)

Teacher Retirement System of Texas bought a new position in Match Group, Inc. (NASDAQ:MTCH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 216,771 shares of the technology company's stock, valued at approximately $7,091,000. Teacher Retirement System of Texas owned about 0.09% of Match Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Match Group during the 3rd quarter valued at $31,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group in the third quarter worth about $57,000. Assetmark Inc. boosted its holdings in Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after acquiring an additional 378 shares during the period. Principal Securities Inc. grew its position in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock worth $107,000 after acquiring an additional 2,652 shares during the last quarter. Finally, Quarry LP lifted its position in Match Group by 126.3% in the third quarter. Quarry LP now owns 2,958 shares of the technology company's stock valued at $112,000 after purchasing an additional 1,651 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Match Group 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 transaction of $7,958,987.74. Following the sale, the president now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.77% of the company's stock.

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Match Group Stock Up 0.0 %

MTCH traded up $0.01 during mid-day trading on Thursday, reaching $31.84. 2,769,871 shares of the company traded hands, compared to its average volume of 4,664,738. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The stock has a market capitalization of $7.97 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.82 and a beta of 1.45. The company's fifty day moving average price is $32.92 and its 200-day moving average price is $33.85.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings results 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 net margin of 15.84% and a negative return on equity of 574.22%. As a group, sell-side analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

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

Match Group Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, April 3rd. Match Group's dividend payout ratio is presently 37.62%.

Analyst Ratings Changes

Several equities research analysts have weighed in on MTCH shares. Barclays dropped their price target on shares of Match Group from $53.00 to $52.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. BTIG Research cut Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Evercore ISI cut shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target on the stock. in a report on Thursday, February 6th. New Street Research cut shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $37.68.

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.