Swedbank AB Acquires 31,108 Shares of Match Group, Inc. (NASDAQ:MTCH)

Swedbank AB raised its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 652,008 shares of the technology company’s stock after purchasing an additional 31,108 shares during the period. Swedbank AB’s holdings in Match Group were worth $21,327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sei Investments Co. increased its holdings in Match Group by 70.4% in the 2nd quarter. Sei Investments Co. now owns 84,493 shares of the technology company’s stock worth $2,566,000 after buying an additional 34,922 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Match Group by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 224,933 shares of the technology company’s stock valued at $6,833,000 after acquiring an additional 2,602 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Match Group by 13.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 75,835 shares of the technology company’s stock valued at $2,304,000 after acquiring an additional 8,928 shares during the last quarter. Quarry LP grew its stake in shares of Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Match Group during the second quarter valued at approximately $731,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity at Match Group

In other news, Director Stephen Bailey sold 801 shares of the business’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 completion of the sale, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MTCH shares. Loop Capital dropped their price target on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. UBS Group dropped their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Finally, Barclays reduced their target price on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.72.

Match Group Trading Up 1.4 %

NASDAQ MTCH opened at $35.70 on Friday. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $39.91. The stock has a 50-day moving average of $32.71 and a 200 day moving average of $34.63. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.08 and a beta of 1.45.

Match Group announced that its board has approved a stock buyback program on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits 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 management believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were given a dividend of $0.19 per share. The ex-dividend date was Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.13%. Match Group’s dividend payout ratio (DPR) is 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.