Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 20.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,112 shares of the technology company’s stock after selling 5,267 shares during the quarter. Janus Henderson Group PLC’s holdings in Match Group were worth $761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Starboard Value LP acquired a new stake in shares of Match Group in the third quarter valued at $361,605,000. Pacer Advisors Inc. increased its holdings in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after purchasing an additional 2,940,667 shares during the period. FMR LLC raised its position in Match Group by 10.4% in the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after purchasing an additional 524,144 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Match Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock valued at $77,342,000 after buying an additional 12,379 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Match Group by 75.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after buying an additional 977,090 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MTCH shares. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Stifel Nicolaus reduced their price objective on shares of Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Match Group in a research note on Thursday. Truist Financial lowered their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Bank of America raised their target price on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.06.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $31.45 on Friday. The company has a market cap of $7.90 billion, a PE ratio of 14.04, a P/E/G ratio of 1.18 and a beta of 1.47. The stock has a fifty day moving average price of $34.35 and a 200 day moving average price of $34.16. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $42.42.

Match Group announced that its board has authorized a share buyback plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, January 6th.

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.