Elo Mutual Pension Insurance Co Has $964,000 Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Elo Mutual Pension Insurance Co lifted its holdings in Match Group, Inc. (NASDAQ:MTCH) by 31.5% in the 4th quarter, Holdings Channel reports. The firm owned 29,485 shares of the technology company’s stock after buying an additional 7,067 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Match Group were worth $964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in Match Group during the third quarter valued at about $31,000. Northwest & Ethical Investments L.P. bought a new position in shares of Match Group in the 3rd quarter valued at approximately $57,000. Quarry LP lifted its holdings in Match Group by 126.3% in the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after purchasing an additional 1,651 shares during the last quarter. Assetmark Inc. boosted its position in Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after purchasing an additional 378 shares during the period. Finally, Principal Securities Inc. grew its holdings in Match Group by 420.3% during the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,652 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MTCH shares. Barclays reduced their price objective on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus cut their target price on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Match Group currently has an average rating of “Hold” and a consensus target price of $37.68.

Match Group Price Performance

Shares of MTCH opened at $30.63 on Monday. The company has a market capitalization of $7.67 billion, a P/E ratio of 15.16, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The business’s 50 day simple moving average is $32.86 and its 200-day simple moving average is $33.77.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (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, sell-side analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal 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 issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is 37.62%.

Match Group declared that its board has initiated a share 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 generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on 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 transaction, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.77% of the company’s stock.

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.