Teacher Retirement System of Texas Makes New Investment in Match Group, Inc. (NASDAQ:MTCH)

Teacher Retirement System of Texas bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 216,771 shares of the technology company’s stock, valued at approximately $7,091,000. Teacher Retirement System of Texas owned approximately 0.09% of Match Group at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its position in shares of 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 in the last quarter. Starboard Value LP purchased a new stake in shares of Match Group during the third quarter worth about $361,605,000. Pacer Advisors Inc. grew its position in shares of Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares in the last quarter. FMR LLC grew its position 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 purchasing an additional 524,144 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Match Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after purchasing an additional 69,947 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction on 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 directly owns 1,690 shares in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.77% of the company’s stock.

Match Group Stock Down 2.3 %

MTCH opened at $30.49 on Friday. The stock’s fifty day moving average is $32.92 and its two-hundred day moving average is $33.94. The company has a market capitalization of $7.64 billion, a P/E ratio of 15.09, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84.

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

Match Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.49%. Match Group’s dividend payout ratio is presently 37.62%.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several research analyst reports. Morgan Stanley increased their target price on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research note on Thursday, February 6th. Finally, BTIG Research lowered Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.