Tredje AP fonden Sells 21,680 Shares of Match Group, Inc. (NASDAQ:MTCH)

Tredje AP fonden cut its stake in Match Group, Inc. (NASDAQ:MTCH) by 50.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,680 shares of the technology company’s stock after selling 21,680 shares during the period. Tredje AP fonden’s holdings in Match Group were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of MTCH. State Street Corp lifted its stake in shares of Match Group by 2.3% in the third quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after buying an additional 391,977 shares during the period. Starboard Value LP acquired a new position in Match Group in the 3rd quarter valued at approximately $361,605,000. Pacer Advisors Inc. lifted its position in shares of Match Group by 17.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after acquiring an additional 939,078 shares during the period. FMR LLC grew its holdings in shares of Match Group by 10.4% during the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after purchasing an additional 524,144 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Match Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock valued at $87,267,000 after purchasing an additional 69,947 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Trading Up 2.9 %

Shares of NASDAQ MTCH opened at $30.94 on Friday. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The firm’s 50-day moving average is $33.02 and its 200-day moving average is $34.15. The firm has a market capitalization of $7.75 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently disclosed 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 is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.46%. Match Group’s dividend payout ratio is presently 37.62%.

Match Group announced that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MTCH shares. Wells Fargo & Company decreased their price target 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. Piper Sandler reissued an “overweight” rating and issued a $40.00 target price on shares of Match Group in a research note on Thursday, December 12th. Jefferies Financial Group restated a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Hsbc Global Res downgraded Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Evercore ISI cut Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price for the company. in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Match Group has a consensus rating of “Hold” and a consensus price target of $37.68.

Insider Buying and Selling at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.

Match Group 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.