Nordea Investment Management AB Acquires 866,026 Shares of Match Group, Inc. (NASDAQ:MTCH)

Nordea Investment Management AB grew its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 56.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,390,194 shares of the technology company’s stock after buying an additional 866,026 shares during the period. Nordea Investment Management AB owned 0.95% of Match Group worth $78,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in Match Group by 11.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 9,993 shares of the technology company’s stock worth $304,000 after purchasing an additional 1,046 shares in the last quarter. National Bank of Canada FI boosted its stake in Match Group by 19.5% during the second quarter. National Bank of Canada FI now owns 71,993 shares of the technology company’s stock valued at $2,112,000 after buying an additional 11,760 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Match Group by 4,398.5% during the 2nd quarter. Acadian Asset Management LLC now owns 69,322 shares of the technology company’s stock valued at $2,102,000 after buying an additional 67,781 shares in the last quarter. Andra AP fonden increased its stake in Match Group by 194.2% in the 2nd quarter. Andra AP fonden now owns 685,772 shares of the technology company’s stock worth $20,834,000 after acquiring an additional 452,700 shares during the last quarter. Finally, Bronte Capital Management Pty Ltd. raised its holdings in shares of Match Group by 50.5% during the 2nd quarter. Bronte Capital Management Pty Ltd. now owns 1,130,236 shares of the technology company’s stock worth $34,337,000 after acquiring an additional 379,031 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.

Match Group Stock Performance

Shares of MTCH opened at $32.40 on Wednesday. The company has a 50 day moving average price of $32.68 and a 200-day moving average price of $34.37. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The stock has a market capitalization of $8.14 billion, a PE ratio of 14.46, a PEG ratio of 1.18 and a beta of 1.45.

Match Group announced that its board has authorized a share buyback program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.35%. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

Analyst Ratings Changes

A number of research firms recently weighed in on MTCH. KeyCorp cut their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Susquehanna reduced their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus reduced their price objective on Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Finally, Barclays lowered their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Thirteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Match Group currently has an average rating of “Moderate Buy” and an average target price of $37.68.

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.