Empowered Funds LLC Acquires New Shares in Match Group, Inc. (NASDAQ:MTCH)

Empowered Funds LLC bought a new stake in Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 250,531 shares of the technology company’s stock, valued at approximately $8,195,000. Empowered Funds LLC owned about 0.10% of Match Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MTCH. Sanctuary Advisors LLC bought a new stake in Match Group in the 2nd quarter valued at about $731,000. Czech National Bank raised its holdings in shares of Match Group by 3.8% during the third quarter. Czech National Bank now owns 52,535 shares of the technology company’s stock valued at $1,988,000 after buying an additional 1,909 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Match Group during the third quarter worth approximately $292,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Match Group by 433.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after buying an additional 1,500 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Match Group by 42.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 56,404 shares of the technology company’s stock worth $2,134,000 after buying an additional 16,768 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 801 shares of the stock in a transaction on Friday, November 22nd. The stock was 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 directly owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.77% of the company’s stock.

Match Group Stock Down 2.3 %

Shares of Match Group stock opened at $33.80 on Monday. The stock has a market cap of $8.49 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84. The business has a fifty day simple moving average of $33.01 and a 200-day simple moving average of $34.66.

Match Group (NASDAQ:MTCH) last released its 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 net margin of 15.84% and a negative return on equity of 574.22%. Analysts expect that Match Group, Inc. will post 2.49 EPS for the current fiscal year.

Match Group declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given 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 2.25%. Match Group’s payout ratio is 37.62%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTCH. KeyCorp reduced their price target on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Barclays decreased their target price on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday. Stifel Nicolaus dropped their price target on shares of Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday. BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Susquehanna dropped their target price on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Match Group presently has an average rating of “Hold” and a consensus price target of $37.68.

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.