Bronte Capital Management Pty Ltd. Trims Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Bronte Capital Management Pty Ltd. reduced its position in Match Group, Inc. (NASDAQ:MTCH) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,042,614 shares of the technology company’s stock after selling 264,537 shares during the quarter. Match Group makes up about 5.0% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 7th largest position. Bronte Capital Management Pty Ltd. owned 0.42% of Match Group worth $34,104,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Match Group in the third quarter valued at about $31,000. Northwest & Ethical Investments L.P. purchased a new stake in Match Group during the third quarter worth about $57,000. Assetmark Inc. boosted its position in Match Group by 14.2% during 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 during the period. Finally, Principal Securities Inc. boosted its position 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 period. 94.05% of the stock is owned by institutional investors.

Match Group Trading Down 2.1 %

Shares of MTCH stock opened at $31.36 on Wednesday. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84. The stock has a market cap of $7.85 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The company’s fifty day moving average price is $33.14 and its 200-day moving average price is $34.27.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (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, sell-side analysts forecast 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 plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Match Group Dividend Announcement

The firm also recently disclosed 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. This represents a $0.76 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Insiders Place Their Bets

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’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 transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTCH. HSBC lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 target price (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Morgan Stanley lifted their target price on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company dropped their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.68.

Match Group Company 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.