Covestor Ltd Sells 1,039 Shares of Match Group, Inc. (NASDAQ:MTCH)

Covestor Ltd cut its holdings in Match Group, Inc. (NASDAQ:MTCH) by 18.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,465 shares of the technology company’s stock after selling 1,039 shares during the period. Covestor Ltd’s holdings in Match Group were worth $145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Assetmark Inc. lifted 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 valued at $99,000 after purchasing an additional 378 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after buying an additional 2,652 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Match Group during the 4th quarter valued at approximately $116,000. Blue Trust Inc. increased its holdings in Match Group by 96.4% in the 4th quarter. Blue Trust Inc. now owns 5,071 shares of the technology company’s stock worth $166,000 after acquiring an additional 2,489 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Match Group by 432.3% during the 4th quarter. Allworth Financial LP now owns 5,387 shares of the technology company’s stock worth $175,000 after acquiring an additional 4,375 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

MTCH has been the subject of a number of analyst reports. 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. New Street Research cut Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Wells Fargo & Company cut their target price on Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Evercore ISI cut Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target on the stock. in a report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.63.

Match Group Price Performance

Shares of MTCH stock opened at $28.48 on Friday. The company has a market cap of $7.13 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. The stock’s 50 day simple moving average is $31.58 and its two-hundred day simple moving average is $33.22. Match Group, Inc. has a 1 year low of $26.39 and a 1 year high of $38.84.

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

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.67%. Match Group’s payout ratio is 37.62%.

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of the firm’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 in the company, valued at approximately $55,533.40. This trade represents 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 link. 0.77% of the stock is owned by company insiders.

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.