Skandinaviska Enskilda Banken AB publ Buys 28,944 Shares of Match Group, Inc. (NASDAQ:MTCH)

Skandinaviska Enskilda Banken AB publ boosted its stake in Match Group, Inc. (NASDAQ:MTCH) by 35.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,271 shares of the technology company’s stock after purchasing an additional 28,944 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Match Group were worth $3,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Erste Asset Management GmbH increased its holdings in Match Group by 12.1% in the fourth quarter. Erste Asset Management GmbH now owns 53,463 shares of the technology company’s stock valued at $1,773,000 after purchasing an additional 5,792 shares during the last quarter. Achmea Investment Management B.V. increased its holdings in Match Group by 1.6% in the fourth quarter. Achmea Investment Management B.V. now owns 144,348 shares of the technology company’s stock valued at $4,722,000 after purchasing an additional 2,221 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Match Group in the fourth quarter valued at about $45,768,000. Marathon Trading Investment Management LLC bought a new stake in Match Group in the fourth quarter valued at about $670,000. Finally, Daiwa Securities Group Inc. increased its holdings in Match Group by 5.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 32,834 shares of the technology company’s stock valued at $1,074,000 after purchasing an additional 1,589 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

MTCH opened at $30.94 on Monday. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The firm has a market capitalization of $7.75 billion, a PE ratio of 15.32, a PEG ratio of 0.82 and a beta of 1.45. The business’s 50-day simple moving average is $33.02 and its 200 day simple moving average is $34.13.

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 negative return on equity of 574.22% and a net margin of 15.84%. On average, research analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Announces Dividend

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 of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.46%. Match Group’s dividend payout ratio is 37.62%.

Match Group announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MTCH has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Match Group in a research note on Monday, December 9th. Loop Capital decreased their target price on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Bank of America boosted their target price on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley boosted their target price on Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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 stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.