Captrust Financial Advisors Decreases Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Captrust Financial Advisors reduced its position in Match Group, Inc. (NASDAQ:MTCH) by 30.8% in the 3rd quarter, Holdings Channel reports. The firm owned 7,676 shares of the technology company’s stock after selling 3,413 shares during the quarter. Captrust Financial Advisors’ holdings in Match Group were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Match Group in the third quarter valued at about $219,000. Northwest & Ethical Investments L.P. acquired a new stake in Match Group in the 3rd quarter valued at about $57,000. Vinva Investment Management Ltd purchased a new position in Match Group in the 3rd quarter worth approximately $933,000. Public Sector Pension Investment Board boosted its holdings in shares of Match Group by 0.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 644,802 shares of the technology company’s stock worth $24,399,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Corsair Capital Management L.P. purchased a new stake in shares of Match Group in the third quarter valued at approximately $241,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated 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 $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is owned by company insiders.

Match Group Price Performance

NASDAQ MTCH opened at $31.45 on Friday. The company has a market cap of $7.90 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.18 and a beta of 1.47. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $42.42. The stock has a 50-day moving average of $34.35 and a two-hundred day moving average of $34.16.

Match Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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. This represents a $0.76 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, January 6th.

Analyst Ratings Changes

A number of research firms have weighed in on MTCH. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Stifel Nicolaus lowered their price target on shares of Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday. Piper Sandler restated an “overweight” rating and set a $40.00 price objective on shares of Match Group in a research report on Thursday. UBS Group reduced their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Bank of America increased their price target on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Match Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.06.

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.