Securian Asset Management Inc. Cuts Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Securian Asset Management Inc. lessened its holdings in Match Group, Inc. (NASDAQ:MTCH) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,421 shares of the technology company’s stock after selling 841 shares during the quarter. Securian Asset Management Inc.’s holdings in Match Group were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTCH. Metis Global Partners LLC boosted its stake in shares of Match Group by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock valued at $358,000 after buying an additional 318 shares in the last quarter. Cornerstone Investment Partners LLC boosted its position in shares of Match Group by 2.2% during the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock worth $520,000 after purchasing an additional 349 shares in the last quarter. Assetmark Inc. grew its stake in shares of Match Group by 14.2% during the 4th 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. Prestige Wealth Management Group LLC increased its holdings in shares of Match Group by 17.2% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 5,128 shares of the technology company’s stock valued at $194,000 after purchasing an additional 753 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group in the third quarter valued at about $31,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

MTCH opened at $31.36 on Tuesday. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The company’s 50 day simple moving average is $32.97 and its 200 day simple moving average is $34.09. The stock has a market capitalization of $7.85 billion, a PE ratio of 15.52, a P/E/G ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data 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 net margin of 15.84% and a negative return on equity of 574.22%. As a group, sell-side analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group declared that its board has authorized a stock buyback 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 reacquire up to 19% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.42%. Match Group’s dividend payout ratio (DPR) is 37.62%.

Insider Transactions at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction 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. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTCH. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 target price (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Stifel Nicolaus lowered their target price on Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. Finally, Morgan Stanley increased their price objective on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.