Heritage Investors Management Corp Has $943,000 Stake in Match Group, Inc. (NASDAQ:MTCH)

Heritage Investors Management Corp trimmed its holdings in Match Group, Inc. (NASDAQ:MTCH) by 10.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,841 shares of the technology company’s stock after selling 3,404 shares during the period. Heritage Investors Management Corp’s holdings in Match Group were worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of Match Group by 37.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,486,837 shares of the technology company’s stock valued at $81,344,000 after buying an additional 683,132 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Match Group by 14.5% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 70,102 shares of the technology company’s stock valued at $2,293,000 after buying an additional 8,900 shares in the last quarter. Flossbach Von Storch SE increased its stake in Match Group by 9.4% in the fourth quarter. Flossbach Von Storch SE now owns 734,395 shares of the technology company’s stock valued at $24,022,000 after acquiring an additional 62,900 shares during the last quarter. Advyzon Investment Management LLC bought a new position in Match Group in the fourth quarter valued at approximately $386,000. Finally, Truist Financial Corp bought a new position in Match Group in the fourth quarter valued at approximately $250,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Evercore ISI cut shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective on the stock. in a research note on Thursday, February 6th. KeyCorp decreased their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.68.

Match Group Stock Down 2.2 %

Shares of Match Group stock opened at $31.88 on Friday. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 0.82 and a beta of 1.45. The company’s fifty day moving average is $33.41 and its 200 day moving average is $34.53.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. As a group, equities analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.38%. Match Group’s payout ratio is 37.62%.

Match Group declared that its board has initiated a stock repurchase 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 buy up to 19% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Match Group Company 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.