Entropy Technologies LP Makes New Investment in Match Group, Inc. (NASDAQ:MTCH)

Entropy Technologies LP acquired a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,300 shares of the technology company’s stock, valued at approximately $599,000.

Several other large investors have also recently modified their holdings of MTCH. Venturi Wealth Management LLC boosted its holdings in Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Match Group in the 3rd quarter worth approximately $31,000. Northwest & Ethical Investments L.P. bought a new stake in Match Group in the third quarter valued at approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,500 shares during the period. Finally, Solstein Capital LLC bought a new position in shares of Match Group in the third quarter worth approximately $87,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Evercore ISI cut Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price on the stock. in a research note on Thursday, February 6th. Morgan Stanley upped their price target on Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research report on Thursday, December 12th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.68.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred on 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. 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 available at the SEC website. Corporate insiders own 0.77% of the company’s stock.

Match Group Stock Up 0.9 %

Shares of MTCH opened at $33.93 on Wednesday. The stock has a market cap of $8.52 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.14 and a beta of 1.45. The business’s 50 day moving average price is $33.02 and its 200-day moving average price is $34.67. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, February 4th. The technology company reported $0.62 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, equities analysts anticipate that Match Group, Inc. will post 2.49 EPS for the current year.

Match Group Dividend Announcement

The company 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 dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.24%. Match Group’s dividend payout ratio is currently 37.62%.

Match Group announced that its Board of Directors has approved a stock repurchase plan 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 plans are often an indication that the company’s management believes its stock is undervalued.

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.