Integrated Investment Consultants LLC Makes New $359,000 Investment in Match Group, Inc. (NASDAQ:MTCH)

Integrated Investment Consultants LLC acquired a new position in shares of Match Group, Inc. (NASDAQ:MTCH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,966 shares of the technology company’s stock, valued at approximately $359,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Match Group by 2.3% during the third quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after purchasing an additional 391,977 shares during the period. Starboard Value LP acquired a new stake in shares of Match Group during the third quarter worth $361,605,000. Pacer Advisors Inc. lifted its holdings in shares of Match Group by 88.5% during the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after buying an additional 2,940,667 shares in the last quarter. FMR LLC lifted its holdings in shares of Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after buying an additional 524,144 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Match Group by 56.8% during the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company’s stock worth $78,733,000 after buying an additional 866,026 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 target price (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Match Group in a report on Monday, December 9th. BTIG Research downgraded Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Loop Capital dropped 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. Finally, Barclays dropped their price target on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.72.

Match Group Trading Up 0.1 %

NASDAQ:MTCH opened at $32.74 on Friday. The stock has a market cap of $8.22 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. The stock’s 50-day moving average is $32.15 and its 200-day moving average is $34.41. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $39.91.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is currently 33.93%.

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

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.