Match Group, Inc. (NASDAQ:MTCH) Shares Acquired by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd boosted its holdings in Match Group, Inc. (NASDAQ:MTCH) by 27.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,216 shares of the technology company’s stock after acquiring an additional 12,304 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Match Group were worth $1,872,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in shares of Match Group during the third quarter valued at about $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the 3rd quarter valued at about $57,000. Quarry LP raised its position in shares of Match Group by 126.3% during the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after buying an additional 1,651 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after acquiring an additional 378 shares during the period. Finally, Principal Securities Inc. boosted its holdings in shares of Match Group by 420.3% in the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after acquiring an additional 2,652 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research analyst reports. 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. Hsbc Global Res lowered Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus cut their price target on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Match Group has a consensus rating of “Hold” and an average target price of $37.68.

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares of the company’s stock, valued at $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 available at this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Match Group Stock Performance

Shares of MTCH opened at $30.63 on Monday. The company has a market capitalization of $7.67 billion, a PE ratio of 15.16, a PEG ratio of 0.82 and a beta of 1.45. The company’s 50 day moving average price is $32.86 and its 200 day moving average price is $33.77. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. On average, equities analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

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

Match Group announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management 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.