Belpointe Asset Management LLC Invests $272,000 in Match Group, Inc. (NASDAQ:MTCH)

Belpointe Asset Management LLC acquired a new stake in Match Group, Inc. (NASDAQ:MTCH) in the fourth quarter, Holdings Channel reports. The firm acquired 8,312 shares of the technology company’s stock, valued at approximately $272,000.

Several other large investors have also recently added to or reduced their stakes in the business. Assetmark Inc. increased its position in shares of 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 acquiring an additional 378 shares during the period. Principal Securities Inc. grew its stake in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,652 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Match Group during the 4th quarter worth about $116,000. Blue Trust Inc. boosted its stake in shares of Match Group by 96.4% in the 4th quarter. Blue Trust Inc. now owns 5,071 shares of the technology company’s stock valued at $166,000 after buying an additional 2,489 shares during the period. Finally, Allworth Financial LP raised its holdings in Match Group by 432.3% in the fourth quarter. Allworth Financial LP now owns 5,387 shares of the technology company’s stock valued at $175,000 after acquiring an additional 4,375 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Trading Up 1.3 %

MTCH stock opened at $29.02 on Friday. Match Group, Inc. has a 52 week low of $26.39 and a 52 week high of $38.84. The company has a market cap of $7.27 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.82 and a beta of 1.49. The company’s 50-day moving average price is $31.17 and its 200 day moving average price is $33.01.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. On average, equities research analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.62%. Match Group’s dividend payout ratio (DPR) is currently 37.62%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MTCH. Stifel Nicolaus dropped their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Barclays decreased their price target on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Hsbc Global Res cut Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company cut their price objective on shares of Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, HSBC cut shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group presently has an average rating of “Hold” and a consensus price target of $37.58.

Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 1,690 shares in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by company insiders.

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.