Brandywine Global Investment Management LLC Sells 5,660 Shares of Match Group, Inc. (NASDAQ:MTCH)

Brandywine Global Investment Management LLC reduced its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,768 shares of the technology company’s stock after selling 5,660 shares during the period. Brandywine Global Investment Management LLC’s holdings in Match Group were worth $2,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in Match Group in the 3rd quarter valued at approximately $31,000. Assetmark Inc. lifted its position in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after purchasing an additional 378 shares in the last quarter. Principal Securities Inc. boosted its holdings in Match Group by 420.3% during the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,652 shares during the last quarter. Quarry LP grew its position in Match Group by 126.3% in the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock valued at $112,000 after purchasing an additional 1,651 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Match Group in the 4th quarter valued at $116,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Performance

Shares of Match Group stock opened at $31.47 on Thursday. The firm has a 50-day moving average of $32.78 and a 200-day moving average of $33.70. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The stock has a market cap of $7.88 billion, a PE ratio of 15.58, a PEG ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data 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%. Equities research analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Insiders Place Their Bets

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

Analyst Ratings Changes

MTCH has been the subject of several analyst reports. Stifel Nicolaus decreased their price objective on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. Loop Capital cut their price objective on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and set a $33.00 target price (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.68.

Match Group 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.