Sound Shore Management Inc. CT Buys Shares of 1,221,715 Match Group, Inc. (NASDAQ:MTCH)

Sound Shore Management Inc. CT acquired a new position in shares of Match Group, Inc. (NASDAQ:MTCH) in the 4th quarter, Holdings Channel.com reports. The fund acquired 1,221,715 shares of the technology company’s stock, valued at approximately $39,962,000.

Several other large investors also recently made changes to their positions in MTCH. Quest Partners LLC bought a new stake in shares of Match Group during the third quarter worth $382,000. Caprock Group LLC bought a new stake in shares of Match Group during the third quarter worth $221,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Match Group during the third quarter worth $251,000. Cerity Partners LLC increased its position in shares of Match Group by 3.4% during the third quarter. Cerity Partners LLC now owns 57,574 shares of the technology company’s stock worth $2,179,000 after acquiring an additional 1,898 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Match Group by 25.6% during the third quarter. Swedbank AB now owns 620,900 shares of the technology company’s stock worth $23,495,000 after acquiring an additional 126,400 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

NASDAQ MTCH opened at $30.49 on Monday. The firm has a 50-day moving average of $32.92 and a 200-day moving average of $33.93. The stock has a market cap of $7.64 billion, a PE ratio of 15.09, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) 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%. As a group, analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group declared that its board has approved a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is 37.62%.

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Match Group in a report on Monday, December 9th. Hsbc Global Res cut shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Barclays reduced their target price on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.