Vanguard Group Inc. Has $992.06 Million Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Vanguard Group Inc. cut its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 1.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,328,984 shares of the technology company’s stock after selling 342,388 shares during the period. Vanguard Group Inc. owned about 0.12% of Match Group worth $992,061,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Cerity Partners LLC raised its stake in Match Group by 3.4% during the 3rd quarter. Cerity Partners LLC now owns 57,574 shares of the technology company’s stock valued at $2,179,000 after purchasing an additional 1,898 shares during the period. Daiwa Securities Group Inc. boosted its position in Match Group by 6.5% during the 3rd 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 during the period. FMR LLC grew 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 acquiring an additional 524,144 shares in the last quarter. Vinva Investment Management Ltd purchased a new stake in shares of Match Group in the third quarter worth approximately $933,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Match Group during the third quarter valued at approximately $57,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Match Group

In related news, President Gary Swidler sold 242,209 shares of Match Group 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 directly owns 1,690 shares of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $30.63 on Friday. The business’s fifty day moving average price is $32.86 and its two-hundred day moving average price is $33.80. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

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

Match Group declared that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently declared 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 2.48%. Match Group’s dividend payout ratio is 37.62%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company cut their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 price target (down previously from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Truist Financial cut 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, New Street Research cut Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Hold” and a consensus target price of $37.68.

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.