First Horizon Advisors Inc. Sells 326 Shares of Match Group, Inc. (NASDAQ:MTCH)

First Horizon Advisors Inc. lessened its stake in Match Group, Inc. (NASDAQ:MTCH) by 3.6% during the fourth quarter, Holdings Channel reports. The firm owned 8,757 shares of the technology company’s stock after selling 326 shares during the period. First Horizon Advisors Inc.’s holdings in Match Group were worth $286,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MTCH. Empirical Finance LLC raised its position in Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after buying an additional 384 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 455 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares in the last quarter. River Global Investors LLP lifted its position in shares of Match Group by 0.9% during the third quarter. River Global Investors LLP now owns 82,382 shares of the technology company’s stock valued at $3,119,000 after purchasing an additional 732 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in Match Group by 17.2% during the third quarter. Prestige Wealth Management Group LLC now owns 5,128 shares of the technology company’s stock worth $194,000 after purchasing an additional 753 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MTCH. Wells Fargo & Company decreased 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. UBS Group decreased their price target on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Hsbc Global Res cut Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Evercore ISI downgraded shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target on the stock. in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and an average target price of $37.68.

Match Group Trading Down 1.1 %

MTCH stock opened at $32.48 on Wednesday. The firm has a 50 day moving average of $33.38 and a 200-day moving average of $34.56. The firm has a market capitalization of $8.16 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 0.82 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.

Match Group (NASDAQ:MTCH) last announced its quarterly 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 net margin of 15.84% and a negative return on equity of 574.22%. Sell-side analysts predict that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

Match Group announced that its board has authorized a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership 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.