Mawer Investment Management Ltd. Grows Holdings in Match Group, Inc. (NASDAQ:MTCH)

Mawer Investment Management Ltd. boosted its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 716.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,254,933 shares of the technology company’s stock after acquiring an additional 4,611,598 shares during the period. Mawer Investment Management Ltd.’s holdings in Match Group were worth $171,889,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Cerity Partners LLC boosted its position in shares of Match Group by 3.4% in the 3rd quarter. Cerity Partners LLC now owns 57,574 shares of the technology company’s stock worth $2,179,000 after purchasing an additional 1,898 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Match Group by 6.5% in the third quarter. Daiwa Securities Group Inc. now owns 31,245 shares of the technology company’s stock worth $1,182,000 after acquiring an additional 1,914 shares in the last quarter. FMR LLC grew its stake in shares of Match Group by 10.4% in the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after acquiring an additional 524,144 shares during the last quarter. Vinva Investment Management Ltd bought a new position in shares of Match Group during the third quarter valued at $933,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group in the 3rd quarter worth about $57,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTCH. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Evercore ISI downgraded Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price on the stock. in a research note on Thursday, February 6th. Wells Fargo & Company decreased their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Finally, HSBC cut Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.68.

Match Group Stock Performance

Shares of Match Group stock opened at $30.63 on Friday. The stock has a market cap of $7.67 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.82 and a beta of 1.45. The stock’s fifty day moving average is $32.86 and its 200 day moving average is $33.78. Match Group, Inc. has a one year low of $27.66 and a one 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 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%. Analysts predict that Match Group, Inc. will post 2.44 EPS for the current year.

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

Match Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.48%. Match Group’s payout ratio is currently 37.62%.

Insider Transactions at Match Group

In other news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction dated 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 completion of the transaction, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.