Minneapolis Portfolio Management Group LLC Sells 10,545 Shares of Match Group, Inc. (NASDAQ:MTCH)

Minneapolis Portfolio Management Group LLC lowered its stake in Match Group, Inc. (NASDAQ:MTCH) by 2.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 520,565 shares of the technology company’s stock after selling 10,545 shares during the quarter. Match Group comprises about 2.2% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 25th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Match Group were worth $17,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after purchasing an additional 391,977 shares during the period. Starboard Value LP bought a new stake in Match Group during the 3rd quarter valued at approximately $361,605,000. Pacer Advisors Inc. raised its stake in Match Group by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after purchasing an additional 939,078 shares during the period. FMR LLC raised its stake in Match Group by 10.4% during the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after purchasing an additional 524,144 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Match Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock valued at $87,267,000 after purchasing an additional 69,947 shares during the period. Institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $30.49 on Monday. The business’s 50-day moving average is $32.92 and its 200 day moving average is $33.93. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The firm has a market capitalization of $7.64 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.82 and a beta of 1.45.

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

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.49%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Match Group announced that its board has authorized a stock buyback plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

MTCH has been the topic of several recent analyst reports. Hsbc Global Res downgraded Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stifel Nicolaus decreased their target price on Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Truist Financial reduced their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Finally, Morgan Stanley lifted their price objective on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.68.

Insider Buying and Selling at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction dated 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 sale, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.77% of the company’s stock.

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.