iA Global Asset Management Inc. Raises Stake in Match Group, Inc. (NASDAQ:MTCH)

iA Global Asset Management Inc. lifted its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 32.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,687 shares of the technology company’s stock after buying an additional 11,222 shares during the quarter. iA Global Asset Management Inc.’s holdings in Match Group were worth $1,494,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in Match Group in the 3rd quarter valued at $31,000. Northwest & Ethical Investments L.P. purchased a new stake in Match Group in the 3rd quarter valued at $57,000. Assetmark Inc. raised 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 purchasing an additional 378 shares during the last quarter. Principal Securities Inc. raised its position in Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,652 shares during the last quarter. Finally, Quarry LP raised its position in Match Group by 126.3% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

Shares of MTCH stock opened at $30.49 on Friday. The stock’s fifty day moving average is $32.92 and its 200-day moving average is $33.97. The stock has a market capitalization of $7.64 billion, a PE ratio of 15.09, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCH) last posted its quarterly 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%. As a group, analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

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 given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Match Group declared that its board has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently commented on MTCH shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $33.00 price target (down previously from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Barclays dropped their price objective on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Loop Capital dropped their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Morgan Stanley boosted their price objective on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.68.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by insiders.

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.