Empower Advisory Group LLC Has $61.56 Million Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Empower Advisory Group LLC reduced its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,881,959 shares of the technology company’s stock after selling 182,120 shares during the quarter. Empower Advisory Group LLC’s holdings in Match Group were worth $61,559,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its position in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Match Group in the 3rd quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group during the 3rd quarter worth approximately $57,000. Solstein Capital LLC acquired a new stake in shares of Match Group during the 3rd quarter worth approximately $87,000. Finally, Blue Trust Inc. boosted its position in shares of Match Group by 1,003.4% during the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the technology company’s stock worth $98,000 after acquiring an additional 2,348 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of several research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Morgan Stanley boosted their price target on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Truist Financial decreased their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, HSBC cut shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Match Group currently has an average rating of “Hold” and a consensus target price of $37.68.

Match Group Trading Up 2.0 %

Shares of MTCH stock opened at $34.69 on Tuesday. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.14 and a beta of 1.45. The stock has a 50-day moving average of $33.13 and a 200-day moving average of $34.66.

Match Group (NASDAQ:MTCH) last released 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%. Sell-side analysts forecast that Match Group, Inc. will post 2.49 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors 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 annualized dividend and a yield of 2.19%. Match Group’s payout ratio is 37.62%.

Match Group announced that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.77% of the company’s stock.

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.