By otakuyassine3@gmail.com 
Charles Schwab Investment Management Inc. increased its position in shares of Match Group, Inc. (NASDAQ:MTCH – Free Report) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,667,907 shares of the technology company’s stock after purchasing an additional 69,947 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Match Group were worth $87,267,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MTCH. Venturi Wealth Management LLC increased its position in Match Group by 617.3% during the third 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 last quarter. Itau Unibanco Holding S.A. acquired a new stake in Match Group during the third quarter worth about $31,000. Northwest & Ethical Investments L.P. acquired a new stake in Match Group during the third quarter worth about $57,000. Principal Securities Inc. increased its position in Match Group by 420.3% during the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,652 shares during the last quarter. Finally, Quarry LP increased its position in Match Group by 126.3% during the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after purchasing an additional 1,651 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Match Group
In other news, President Gary Swidler sold 242,209 shares of the business’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 completion of the sale, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.77% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on MTCH. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp dropped their price target on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. HSBC cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.68.
Get Our Latest Stock Report on Match Group
Match Group Stock Down 1.8 %
Shares of Match Group stock opened at $32.03 on Tuesday. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The company has a 50 day moving average of $33.17 and a 200 day moving average of $34.31. The company has a market capitalization of $8.02 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.82 and a beta of 1.45.
Match Group (NASDAQ:MTCH – Get Free Report) last issued its quarterly 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%. As a group, research analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.
Match Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Match Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.37%. Match Group’s dividend payout ratio is presently 37.62%.
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.
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