Securian Asset Management Inc. Reduces Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Securian Asset Management Inc. lessened its stake in Match Group, Inc. (NASDAQ:MTCH) by 5.9% in the fourth quarter, Holdings Channel reports. The fund owned 13,421 shares of the technology company’s stock after selling 841 shares during the quarter. Securian Asset Management Inc.’s holdings in Match Group were worth $439,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Match Group during the third quarter worth $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group in the 3rd quarter worth $57,000. Assetmark Inc. boosted its position in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after buying an additional 378 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Match Group by 420.3% during 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. Finally, Quarry LP increased its position in shares of Match Group by 126.3% during the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after acquiring an additional 1,651 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

MTCH has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus reduced their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 price objective (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Finally, UBS Group cut their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Stock Performance

Match Group stock opened at $31.36 on Tuesday. The firm has a market capitalization of $7.85 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.82 and a beta of 1.45. The company has a 50-day simple moving average of $32.97 and a 200-day simple moving average of $34.09. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84.

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 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%. As a group, sell-side analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group announced that its board has approved a share repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders 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 2.42%. Match Group’s payout ratio is 37.62%.

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.