Match Group, Inc. (NASDAQ:MTCH) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 148.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 292,364 shares of the technology company's stock after buying an additional 174,530 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of Match Group worth $9,563,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Starboard Value LP purchased a new position in Match Group in the third quarter valued at about $361,605,000. Paloma Partners Management Co raised its holdings in Match Group by 510.3% during the third quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company's stock worth $2,463,000 after purchasing an additional 54,422 shares during the last quarter. Aviance Capital Partners LLC purchased a new stake in Match Group during the third quarter worth $2,170,000. Mawer Investment Management Ltd. boosted its position in Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company's stock worth $24,344,000 after purchasing an additional 267,890 shares in the last quarter. Finally, Redwood Investment Management LLC acquired a new stake in Match Group in the third quarter valued at $2,789,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on MTCH. Loop Capital decreased their price objective on shares of Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, December 12th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $33.00 price objective (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. New Street Research downgraded Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. UBS Group lowered their target price on Match Group from $38.00 to $34.00 and set a "neutral" rating on the stock in a report on Thursday, December 12th. Finally, BTIG Research cut Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Sixteen 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 stock has a consensus rating of "Hold" and a consensus price target of $37.68.

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Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of Match Group 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 sale, the president now owns 1,690 shares of the company's stock, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by insiders.

Match Group Stock Up 1.4 %

Shares of NASDAQ MTCH traded up $0.42 during midday trading on Monday, hitting $31.36. The stock had a trading volume of 2,933,953 shares, compared to its average volume of 4,704,168. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.82 and a beta of 1.45. The company has a fifty day moving average price of $33.02 and a 200 day moving average price of $34.13.

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

Match Group Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's dividend payout ratio (DPR) is presently 37.62%.

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

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.