MML Investors Services LLC Reduces Stock Position in Match Group, Inc. (NASDAQ:MTCH)

MML Investors Services LLC lowered its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 21.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,357 shares of the technology company’s stock after selling 8,827 shares during the period. MML Investors Services LLC’s holdings in Match Group were worth $1,224,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Starboard Value LP purchased a new stake in Match Group during the 3rd quarter valued at $361,605,000. Versor Investments LP raised its holdings in Match Group by 301.7% in the 3rd quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock worth $1,824,000 after purchasing an additional 36,200 shares in the last quarter. Paloma Partners Management Co raised its holdings in Match Group by 510.3% in the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock worth $2,463,000 after purchasing an additional 54,422 shares in the last quarter. Aviance Capital Partners LLC bought a new position in Match Group in the 3rd quarter worth $2,170,000. Finally, Mawer Investment Management Ltd. raised its holdings in Match Group by 71.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock worth $24,344,000 after purchasing an additional 267,890 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on MTCH. Susquehanna decreased their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. UBS Group decreased their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Match Group in a research note on Tuesday. Evercore ISI decreased their price target on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. Finally, Morgan Stanley decreased their price target 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 research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.68.

Match Group Trading Down 1.6 %

NASDAQ MTCH opened at $31.08 on Thursday. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $42.42. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.18 and a beta of 1.47. The company’s 50 day moving average is $34.01 and its two-hundred day moving average is $34.19.

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

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s payout ratio is 33.93%.

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.