Everence Capital Management Inc. Makes New Investment in Match Group, Inc. (NASDAQ:MTCH)

Everence Capital Management Inc. purchased a new stake in Match Group, Inc. (NASDAQ:MTCH) in the fourth quarter, HoldingsChannel reports. The firm purchased 7,640 shares of the technology company’s stock, valued at approximately $250,000.

Several other institutional investors have also made changes to their positions in MTCH. Sumitomo Life Insurance Co. increased its holdings in Match Group by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after buying an additional 297 shares during the period. Fulton Bank N.A. boosted its position in shares of Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after acquiring an additional 299 shares in the last quarter. Empirical Finance LLC increased its stake in Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after acquiring an additional 384 shares during the last quarter. State of Alaska Department of Revenue raised its position in Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 455 shares in the last quarter. Finally, Quarry LP lifted its stake in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after purchasing an additional 461 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction on 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 sale, the director now owns 12,398 shares in the company, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MTCH shares. Evercore ISI decreased their price target on Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. UBS Group decreased their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. KeyCorp dropped their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Loop Capital decreased 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, Morgan Stanley dropped their price objective on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Thirteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.68.

Match Group Trading Down 1.7 %

Shares of MTCH opened at $31.86 on Thursday. The firm’s fifty day simple moving average is $32.58 and its two-hundred day simple moving average is $34.36. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $42.42. The stock has a market capitalization of $8.00 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45.

Match Group announced that its board has authorized a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.39%. Match Group’s dividend payout ratio is currently 33.93%.

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.