Amalgamated Bank Sells 2,138 Shares of Match Group, Inc. (NASDAQ:MTCH)

Amalgamated Bank trimmed its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 48,789 shares of the technology company’s stock after selling 2,138 shares during the quarter. Amalgamated Bank’s holdings in Match Group were worth $1,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after purchasing an additional 391,977 shares during the period. Starboard Value LP bought a new stake in shares of Match Group in the 3rd quarter valued at $361,605,000. Pacer Advisors Inc. raised its stake in Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after buying an additional 939,078 shares during the last quarter. FMR LLC raised its stake in Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after buying an additional 524,144 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in 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 during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MTCH shares. KeyCorp cut their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Stifel Nicolaus cut their price target on Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Susquehanna lowered their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Truist Financial cut their target price on shares of 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, Loop Capital reduced their price target on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Match Group currently has a consensus rating of “Hold” and a consensus price target of $37.68.

Match Group Stock Performance

Match Group stock opened at $31.71 on Monday. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The stock has a market cap of $7.96 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The firm’s 50-day simple moving average is $33.37 and its 200 day simple moving average is $34.52.

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

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.40%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Match Group declared that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board 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.