Match Group, Inc. (NASDAQ:MTCH) Shares Sold by EULAV Asset Management

EULAV Asset Management lowered its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 21.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,129 shares of the technology company’s stock after selling 90,007 shares during the quarter. EULAV Asset Management’s holdings in Match Group were worth $10,635,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Venturi Wealth Management LLC lifted its position in shares of Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Match Group during the third quarter valued at $31,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group in the third quarter valued at about $57,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Solstein Capital LLC acquired a new position in shares of Match Group during the 3rd quarter worth about $87,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MTCH shares. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus reduced their price objective on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 target price (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Finally, BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Fifteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $37.68.

Match Group Trading Down 2.3 %

NASDAQ MTCH opened at $33.80 on Friday. The stock has a fifty day simple moving average of $32.99 and a 200-day simple moving average of $34.66. The stock has a market cap of $8.49 billion, a PE ratio of 16.73, a P/E/G ratio of 1.14 and a beta of 1.45. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Research analysts predict that Match Group, Inc. will post 2.49 EPS for the current year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders 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 yield of 2.25%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is 37.62%.

Match Group declared that its Board of Directors has approved a stock buyback 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 a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.77% of the company’s stock.

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.