Prestige Wealth Management Group LLC Has $189,000 Holdings in Match Group, Inc. (NASDAQ:MTCH)

Prestige Wealth Management Group LLC lifted its holdings in Match Group, Inc. (NASDAQ:MTCH) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,785 shares of the technology company’s stock after purchasing an additional 657 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Match Group were worth $189,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Sound Shore Management Inc. CT bought a new stake in Match Group during the 4th quarter worth about $39,962,000. KLP Kapitalforvaltning AS bought a new stake in Match Group during the fourth quarter worth about $2,515,000. Hillsdale Investment Management Inc. boosted its position in Match Group by 4.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 21,650 shares of the technology company’s stock valued at $708,000 after purchasing an additional 900 shares during the last quarter. TD Private Client Wealth LLC grew its stake in Match Group by 10.1% in the fourth quarter. TD Private Client Wealth LLC now owns 7,172 shares of the technology company’s stock valued at $235,000 after purchasing an additional 657 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its position in shares of Match Group by 32.6% during the 4th quarter. iA Global Asset Management Inc. now owns 45,687 shares of the technology company’s stock worth $1,494,000 after purchasing an additional 11,222 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays cut their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Truist Financial reduced their price target on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Finally, Morgan Stanley upped their price objective on Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $31.27 on Wednesday. The business’s 50 day simple moving average is $32.92 and its 200 day simple moving average is $33.86. 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 $7.83 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 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%. On average, sell-side analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.43%. Match Group’s dividend payout ratio is 37.62%.

Match Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on Friday, March 7th. The stock was 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 directly owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is currently owned by insiders.

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.