Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. grew its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 11.0% during the fourth quarter, HoldingsChannel reports. The firm owned 5,467,257 shares of the technology company’s stock after buying an additional 541,556 shares during the period. Match Group accounts for 3.1% of Edmond DE Rothschild Holding S.A.’s portfolio, making the stock its 8th largest position. Edmond DE Rothschild Holding S.A.’s holdings in Match Group were worth $178,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Cerity Partners LLC grew its position in Match Group by 3.4% in the third quarter. Cerity Partners LLC now owns 57,574 shares of the technology company’s stock valued at $2,179,000 after acquiring an additional 1,898 shares in the last quarter. FMR LLC boosted its stake in shares of Match Group by 10.4% in the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after purchasing an additional 524,144 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in Match Group during the 3rd quarter valued at $57,000. Erste Asset Management GmbH acquired a new position in Match Group in the 3rd quarter worth $1,802,000. Finally, Paloma Partners Management Co lifted its holdings in Match Group by 510.3% in the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock worth $2,463,000 after buying an additional 54,422 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of the stock in a transaction that occurred on 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 transaction, the president now directly owns 1,690 shares of the company’s stock, valued at $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTCH has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. UBS Group dropped their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Morgan Stanley upped their target price on Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Loop Capital decreased their price target on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Finally, Hsbc Global Res cut shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.68.

Match Group Price Performance

NASDAQ:MTCH opened at $30.63 on Monday. The firm has a market capitalization of $7.67 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.82 and a beta of 1.45. The business has a 50 day simple moving average of $32.86 and a 200 day simple moving average of $33.77. Match Group, Inc. has a 12-month low of $27.66 and a 12-month 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 net margin of 15.84% and a negative return on equity of 574.22%. Research analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group declared that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 19% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is 37.62%.

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.