Match Group, Inc. (NASDAQ:MTCH) Stake Lessened by Arizona State Retirement System

Arizona State Retirement System decreased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 71,151 shares of the technology company’s stock after selling 1,157 shares during the quarter. Arizona State Retirement System’s holdings in Match Group were worth $2,327,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Starboard Value LP acquired a new position in shares of Match Group during the 3rd quarter valued at $361,605,000. Retirement Systems of Alabama boosted its stake in Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after buying an additional 1,601,115 shares in the last quarter. Seizert Capital Partners LLC boosted its stake in Match Group by 468.6% during the fourth quarter. Seizert Capital Partners LLC now owns 1,481,967 shares of the technology company’s stock valued at $48,475,000 after buying an additional 1,221,347 shares in the last quarter. KBC Group NV boosted its stake in Match Group by 3,325.7% during the fourth quarter. KBC Group NV now owns 1,122,906 shares of the technology company’s stock valued at $36,730,000 after buying an additional 1,090,127 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after buying an additional 939,078 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Match Group

In other news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares of the company’s stock, valued at $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.77% of the company’s stock.

Match Group Trading Down 1.8 %

Shares of NASDAQ MTCH opened at $32.03 on Tuesday. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The firm has a market capitalization of $8.02 billion, a PE ratio of 15.86, a PEG ratio of 0.82 and a beta of 1.45. The business has a 50-day moving average price of $33.17 and a two-hundred day moving average price of $34.31.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Research analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group announced that its board has authorized a share 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. New Street Research cut Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. Stifel Nicolaus decreased their target price on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Truist Financial decreased their target price on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Match Group in a research note on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.68.

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.