Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Swiss National Bank

Swiss National Bank decreased its stake in Match Group, Inc. (NASDAQ:MTCH) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 692,171 shares of the technology company’s stock after selling 57,000 shares during the period. Swiss National Bank’s holdings in Match Group were worth $22,641,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Match Group in the third quarter valued at $31,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Match Group in the 3rd quarter valued at about $57,000. Assetmark Inc. boosted its position in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after purchasing an additional 378 shares during the period. Principal Securities Inc. grew its stake in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after buying an additional 2,652 shares during the last quarter. Finally, Quarry LP increased its position in Match Group by 126.3% during the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after buying an additional 1,651 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $31.36 on Tuesday. The firm’s 50-day moving average is $32.97 and its two-hundred day moving average is $34.09. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84. The company has a market capitalization of $7.85 billion, a PE ratio of 15.52, a price-to-earnings-growth 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 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group declared that its Board of Directors has authorized a stock buyback plan 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 plans are generally a sign that the company’s board believes its stock is undervalued.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued 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 yield of 2.42%. Match Group’s dividend payout ratio (DPR) is 37.62%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $33.00 target price (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Barclays lowered their price objective on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. UBS Group decreased their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company dropped their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Finally, Loop Capital decreased their price objective on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.68.

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.