Match Group, Inc. (NASDAQ:MTCH) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC trimmed its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 20.8% during the fourth quarter, Holdings Channel reports. The firm owned 4,097 shares of the technology company’s stock after selling 1,079 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Match Group were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Starboard Value LP bought a new position in Match Group during the 3rd quarter worth $361,605,000. Versor Investments LP boosted its holdings in shares of Match Group by 301.7% during the third quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock valued at $1,824,000 after acquiring an additional 36,200 shares during the period. Paloma Partners Management Co grew its position in shares of Match Group by 510.3% during the third quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock worth $2,463,000 after acquiring an additional 54,422 shares during the last quarter. Aviance Capital Partners LLC bought a new position in shares of Match Group during the third quarter worth about $2,170,000. Finally, Mawer Investment Management Ltd. lifted its position in Match Group by 71.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock valued at $24,344,000 after purchasing an additional 267,890 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Down 0.8 %

NASDAQ:MTCH opened at $35.40 on Tuesday. The stock has a fifty day simple moving average of $32.80 and a 200 day simple moving average of $34.65. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.15%. Match Group’s dividend payout ratio is currently 33.93%.

Match Group announced that its board has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have commented on MTCH. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. New Street Research cut Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Stifel Nicolaus reduced their price target on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. KeyCorp decreased their price target on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, 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 report on Tuesday, December 17th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.72.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The sale 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 insiders.

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.