NEOS Investment Management LLC Buys 3,732 Shares of Match Group, Inc. (NASDAQ:MTCH)

NEOS Investment Management LLC lifted its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 31.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,743 shares of the technology company’s stock after acquiring an additional 3,732 shares during the period. NEOS Investment Management LLC’s holdings in Match Group were worth $515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UniSuper Management Pty Ltd increased its stake in Match Group by 27.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 57,216 shares of the technology company’s stock valued at $1,872,000 after purchasing an additional 12,304 shares in the last quarter. Elo Mutual Pension Insurance Co increased its position in Match Group by 31.5% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 29,485 shares of the technology company’s stock valued at $964,000 after buying an additional 7,067 shares in the last quarter. Korea Investment CORP increased its position in Match Group by 37.1% in the 4th quarter. Korea Investment CORP now owns 376,965 shares of the technology company’s stock valued at $12,331,000 after buying an additional 102,000 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Match Group by 14.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 577,211 shares of the technology company’s stock worth $18,881,000 after buying an additional 74,132 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its holdings in Match Group by 12.8% in the fourth quarter. Prestige Wealth Management Group LLC now owns 5,785 shares of the technology company’s stock worth $189,000 after acquiring an additional 657 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MTCH shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. Loop Capital lowered their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. BTIG Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Stifel Nicolaus decreased their target price on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, Truist Financial dropped their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.68.

Match Group Trading Down 3.8 %

Shares of NASDAQ MTCH opened at $30.63 on Monday. The stock has a fifty day simple moving average of $32.86 and a two-hundred day simple moving average of $33.77. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. Analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is currently 37.62%.

Match Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes 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 board believes its stock is undervalued.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.77% of the stock is currently owned by corporate insiders.

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.