New Age Alpha Advisors LLC Takes $4.78 Million Position in Match Group, Inc. (NASDAQ:MTCH)

New Age Alpha Advisors LLC acquired a new position in shares of Match Group, Inc. (NASDAQ:MTCH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 146,265 shares of the technology company’s stock, valued at approximately $4,784,000. New Age Alpha Advisors LLC owned 0.06% of Match Group as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Match Group during the 4th quarter worth about $112,176,000. NEOS Investment Management LLC grew its holdings in Match Group by 31.1% during the fourth quarter. NEOS Investment Management LLC now owns 15,743 shares of the technology company’s stock valued at $515,000 after purchasing an additional 3,732 shares during the period. UniSuper Management Pty Ltd increased its stake in Match Group by 27.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 57,216 shares of the technology company’s stock valued at $1,872,000 after purchasing an additional 12,304 shares in the last quarter. Elo Mutual Pension Insurance Co raised its holdings in Match Group by 31.5% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 29,485 shares of the technology company’s stock worth $964,000 after purchasing an additional 7,067 shares during the period. Finally, Korea Investment CORP boosted its position in shares of Match Group by 37.1% during the fourth quarter. Korea Investment CORP now owns 376,965 shares of the technology company’s stock worth $12,331,000 after purchasing an additional 102,000 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. 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 report on Thursday, December 12th. Hsbc Global Res lowered Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and set a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.68.

Insider Activity

In related news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Match Group Trading Down 3.8 %

NASDAQ MTCH opened at $30.63 on Friday. 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 moving average of $32.86 and a 200-day moving average of $33.80. The company has a market cap of $7.67 billion, a PE ratio of 15.16, a PEG 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 EPS for the current fiscal year.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.48%. Match Group’s dividend payout ratio is 37.62%.

Match Group declared that its board has approved a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.