Match Group, Inc. (NASDAQ:MTCH) Stake Raised by TD Private Client Wealth LLC

TD Private Client Wealth LLC increased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,172 shares of the technology company’s stock after purchasing an additional 657 shares during the quarter. TD Private Client Wealth LLC’s holdings in Match Group were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in Match Group during the 3rd quarter worth $31,000. Northwest & Ethical Investments L.P. acquired a new stake in Match Group in the third quarter worth about $57,000. Assetmark Inc. grew its position in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after buying an additional 378 shares in the last quarter. Principal Securities Inc. increased 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 valued at $107,000 after buying an additional 2,652 shares during the period. Finally, Quarry LP raised its position in shares of Match Group by 126.3% during the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after buying an additional 1,651 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Loop Capital decreased their price target on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. UBS Group decreased their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Finally, Hsbc Global Res cut shares of Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.68.

Match Group Price Performance

NASDAQ MTCH opened at $31.66 on Tuesday. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The company has a 50 day simple moving average of $32.93 and a 200-day simple moving average of $33.89. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84.

Match Group (NASDAQ:MTCH) last released 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 negative return on equity of 574.22% and a net margin of 15.84%. On average, analysts predict that Match Group, Inc. will post 2.44 EPS for the current year.

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 2.40%. The ex-dividend date is Thursday, April 3rd. Match Group’s payout ratio is currently 37.62%.

Match Group declared that its Board of Directors has approved a stock buyback program 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 programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Match Group

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 transaction, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.77% of the company’s stock.

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.