Allianz SE Makes New $463,000 Investment in Match Group, Inc. (NASDAQ:MTCH)

Allianz SE purchased a new stake in Match Group, Inc. (NASDAQ:MTCH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,127 shares of the technology company’s stock, valued at approximately $463,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MTCH. Cerity Partners LLC raised its position in shares of Match Group by 3.4% during the third quarter. Cerity Partners LLC now owns 57,574 shares of the technology company’s stock worth $2,179,000 after purchasing an additional 1,898 shares during the period. FMR LLC raised its holdings in Match Group by 10.4% during the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after buying an additional 524,144 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in Match Group during the third quarter valued at about $57,000. Erste Asset Management GmbH acquired a new position in shares of Match Group in the third quarter worth about $1,802,000. Finally, Paloma Partners Management Co increased its position in shares of Match Group by 510.3% in 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 in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MTCH shares. Piper Sandler restated an “overweight” rating and issued a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. Loop Capital cut their target price on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target on the stock. in a research report on Thursday, February 6th. HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Truist Financial decreased their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Sixteen equities research 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 has an average rating of “Hold” and a consensus target price of $37.68.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of the company’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 completion of the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.77% of the company’s stock.

Match Group Trading Down 3.8 %

NASDAQ MTCH opened at $30.63 on Monday. 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 $7.67 billion, a PE ratio of 15.16, a P/E/G ratio of 0.82 and a beta of 1.45. The stock has a 50-day simple moving average of $32.86 and a 200 day simple moving average of $33.77.

Match Group (NASDAQ:MTCH) last posted its 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%. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given 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 dividend yield of 2.48%. Match Group’s payout ratio is 37.62%.

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

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.