Match Group, Inc. (NASDAQ:MTCH) Position Increased by M&T Bank Corp

M&T Bank Corp raised its position in Match Group, Inc. (NASDAQ:MTCH) by 13.2% during the third quarter, HoldingsChannel.com reports. The firm owned 21,551 shares of the technology company’s stock after buying an additional 2,507 shares during the quarter. M&T Bank Corp’s holdings in Match Group were worth $816,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Match Group in the second quarter worth approximately $220,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Match Group by 3.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 577,885 shares of the technology company’s stock worth $17,556,000 after acquiring an additional 17,540 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Match Group by 7.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company’s stock worth $269,000 after purchasing an additional 598 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Match Group by 8.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 13,476 shares of the technology company’s stock valued at $409,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Lecap Asset Management Ltd. lifted its stake in shares of Match Group by 101.5% in the 2nd quarter. Lecap Asset Management Ltd. now owns 17,645 shares of the technology company’s stock valued at $536,000 after purchasing an additional 8,888 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTCH has been the topic of several analyst reports. Piper Sandler reissued an “overweight” rating and set a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. UBS Group lowered their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Evercore ISI reduced their target price on Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Friday. Bank of America increased their price target on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.06.

Match Group Trading Up 2.9 %

Shares of MTCH opened at $32.36 on Tuesday. The stock has a market cap of $8.13 billion, a PE ratio of 14.45, a PEG ratio of 1.18 and a beta of 1.47. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $42.42. The stock has a 50 day simple moving average of $34.24 and a 200-day simple moving average of $34.21.

Match Group announced that its board has approved a share 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 repurchase up to 19% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be paid a $0.19 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.35%. Match Group’s dividend payout ratio is presently 33.93%.

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.