Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 8.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,800 shares of the technology company’s stock after selling 5,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Match Group were worth $1,891,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MTCH. Starboard Value LP acquired a new stake in Match Group in the 3rd quarter valued at about $361,605,000. Retirement Systems of Alabama increased its stake in shares of Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after acquiring an additional 1,601,115 shares during the period. KBC Group NV lifted its holdings in shares of Match Group by 3,325.7% in the 4th quarter. KBC Group NV now owns 1,122,906 shares of the technology company’s stock valued at $36,730,000 after buying an additional 1,090,127 shares during the period. Pacer Advisors Inc. boosted its position in shares of Match Group by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Match Group by 56.8% in the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company’s stock valued at $78,733,000 after purchasing an additional 866,026 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Susquehanna reduced their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective for the company. in a research report on Thursday, February 6th. Finally, Morgan Stanley raised their target price on Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $37.68.

Match Group Stock Performance

Shares of MTCH opened at $32.48 on Wednesday. The stock has a market capitalization of $8.16 billion, a PE ratio of 16.08, a P/E/G ratio of 0.82 and a beta of 1.45. The company’s fifty day moving average is $33.38 and its 200 day moving average is $34.56. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84.

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

Match Group Dividend Announcement

The firm 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Match Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback plans are typically a sign 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.