Intrepid Capital Management Inc. Purchases 10,091 Shares of Match Group, Inc. (NASDAQ:MTCH)

Intrepid Capital Management Inc. increased its position in Match Group, Inc. (NASDAQ:MTCH) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,862 shares of the technology company’s stock after purchasing an additional 10,091 shares during the quarter. Match Group makes up 1.2% of Intrepid Capital Management Inc.’s portfolio, making the stock its 24th largest holding. Intrepid Capital Management Inc.’s holdings in Match Group were worth $2,252,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Mawer Investment Management Ltd. boosted its position in shares of Match Group by 716.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company’s stock valued at $171,889,000 after acquiring an additional 4,611,598 shares in the last quarter. Norges Bank bought a new position in Match Group during the fourth quarter worth about $112,176,000. Arrowstreet Capital Limited Partnership boosted its holdings in Match Group by 110.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock valued at $183,968,000 after purchasing an additional 2,952,470 shares in the last quarter. DnB Asset Management AS grew its stake in shares of Match Group by 4,659.2% in the 4th quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company’s stock valued at $62,643,000 after purchasing an additional 1,874,853 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of Match Group by 2,732.1% in the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after buying an additional 1,601,115 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In other Match Group 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 transaction of $7,958,987.74. Following the transaction, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.77% of the stock is owned by company insiders.

Match Group Trading Up 0.7 %

NASDAQ MTCH opened at $31.41 on Wednesday. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84. The stock has a 50-day simple moving average of $32.80 and a 200 day simple moving average of $33.72. The company has a market capitalization of $7.87 billion, a PE ratio of 15.55, a P/E/G ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last announced its quarterly 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%. As a group, sell-side analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group declared that its board has authorized a stock buyback plan on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given 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 dividend yield of 2.42%. Match Group’s dividend payout ratio is 37.62%.

Analyst Ratings Changes

Several brokerages recently commented on MTCH. New Street Research lowered Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. Bank of America boosted their target price on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Wells Fargo & Company dropped their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.