Wellington Management Group LLP Increases Position in Match Group, Inc. (NASDAQ:MTCH)

Wellington Management Group LLP grew its holdings in Match Group, Inc. (NASDAQ:MTCH) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,508 shares of the technology company’s stock after purchasing an additional 919 shares during the quarter. Wellington Management Group LLP’s holdings in Match Group were worth $322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Venturi Wealth Management LLC lifted its position in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group in the 3rd quarter worth $31,000. Quarry LP raised its holdings in shares of Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in shares of Match Group during the 3rd quarter valued at about $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,500 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTCH has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price (down from $40.00) on shares of Match Group in a research note on Tuesday. New Street Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Bank of America increased their price objective on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Truist Financial reduced their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Match Group in a report on Monday, December 9th. Thirteen investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.68.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $33.76 on Friday. The stock’s 50-day moving average is $33.83 and its two-hundred day moving average is $34.19. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth 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.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be issued a $0.19 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.25%. Match Group’s dividend payout ratio (DPR) is 33.93%.

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 purchase 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.

Insider Buying and Selling

In other news, Director Stephen Bailey sold 801 shares of the firm’s 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 sale, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents 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 this link. 0.77% of the stock is 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.