Edgestream Partners L.P. Makes New $2.29 Million Investment in Match Group, Inc. (NASDAQ:MTCH)

Edgestream Partners L.P. purchased a new position in Match Group, Inc. (NASDAQ:MTCH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,882 shares of the technology company’s stock, valued at approximately $2,286,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Starboard Value LP bought a new position in Match Group in the 3rd quarter worth approximately $361,605,000. Versor Investments LP boosted its position in shares of Match Group by 301.7% during the 3rd quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock valued at $1,824,000 after acquiring an additional 36,200 shares during the last quarter. Paloma Partners Management Co boosted its position in shares of Match Group by 510.3% during the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock valued at $2,463,000 after acquiring an additional 54,422 shares during the last quarter. Aviance Capital Partners LLC bought a new position in shares of Match Group during the 3rd quarter valued at approximately $2,170,000. Finally, Mawer Investment Management Ltd. boosted its position in shares of Match Group by 71.4% during the 3rd quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock valued at $24,344,000 after acquiring an additional 267,890 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Activity at Match Group

In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Match Group Trading Up 4.1 %

NASDAQ:MTCH opened at $32.62 on Monday. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The stock has a fifty day simple moving average of $33.18 and a 200-day simple moving average of $34.34.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data 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%. As a group, equities research analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group declared that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.33%. Match Group’s payout ratio is currently 37.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MTCH shares. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Loop Capital lowered their target price on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. Bank of America increased their target price on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Truist Financial lowered their target price on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Sixteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.68.

About Match Group

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.