Stifel Financial Corp Sells 3,162 Shares of Match Group, Inc. (NASDAQ:MTCH)

Stifel Financial Corp cut its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 14.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 18,863 shares of the technology company’s stock after selling 3,162 shares during the period. Stifel Financial Corp’s holdings in Match Group were worth $714,000 at the end of the most recent reporting period.

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

Match Group Trading Up 1.1 %

Shares of Match Group stock opened at $33.22 on Thursday. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $42.42. The firm has a market capitalization of $8.34 billion, a PE ratio of 14.83, a P/E/G ratio of 1.18 and a beta of 1.47. The firm’s 50-day moving average price is $33.62 and its 200 day moving average price is $34.24.

Match Group Announces Dividend

The firm 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 $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is 33.93%.

Match Group declared that its board has approved a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MTCH. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Susquehanna decreased their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. Truist Financial dropped their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Finally, Bank of America upped their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Thirteen research 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. According to MarketBeat, Match Group has an average rating of “Moderate Buy” and a consensus price target of $37.68.

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by corporate 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.