Match Group, Inc. (NASDAQ:MTCH) is Bronte Capital Management Pty Ltd.’s 7th Largest Position

Bronte Capital Management Pty Ltd. reduced its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 20.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,042,614 shares of the technology company’s stock after selling 264,537 shares during the period. Match Group makes up about 5.0% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 7th largest holding. Bronte Capital Management Pty Ltd.’s holdings in Match Group were worth $34,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MTCH. Metis Global Partners LLC lifted its position in Match Group by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock worth $358,000 after buying an additional 318 shares during the last quarter. Cornerstone Investment Partners LLC raised its holdings in shares of Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock valued at $520,000 after acquiring an additional 349 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after acquiring an additional 378 shares in the last quarter. Empirical Finance LLC grew its stake in Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after purchasing an additional 384 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Gary Swidler sold 242,209 shares of the 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 transaction, the president now owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This represents a 99.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Match Group Trading Down 2.1 %

NASDAQ MTCH opened at $31.36 on Wednesday. The stock has a market cap of $7.85 billion, a PE ratio of 15.52, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The stock has a fifty day simple moving average of $33.14 and a 200-day simple moving average of $34.27.

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

Match Group declared that its board has initiated 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 reacquire up to 19% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. HSBC lowered Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Match Group in a research note on Monday, December 9th. Morgan Stanley boosted their price target 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. Loop Capital dropped their price target on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $33.00 price target (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.68.

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.