Match Group, Inc. (NASDAQ:MTCH) Position Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in Match Group, Inc. (NASDAQ:MTCH) by 3.1% during the fourth quarter, Holdings Channel reports. The firm owned 121,218 shares of the technology company’s stock after selling 3,833 shares during the period. Pictet Asset Management Holding SA’s holdings in Match Group were worth $3,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MTCH. Metis Global Partners LLC grew its position in Match Group by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock worth $358,000 after buying an additional 318 shares during the last quarter. Cornerstone Investment Partners LLC boosted its stake in shares of Match Group by 2.2% during the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock worth $520,000 after acquiring an additional 349 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after acquiring an additional 378 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Match Group by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company’s stock worth $2,445,000 after purchasing an additional 478 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Match Group by 10.1% during the fourth quarter. TD Private Client Wealth LLC now owns 7,172 shares of the technology company’s stock valued at $235,000 after purchasing an additional 657 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. New Street Research cut Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. Wells Fargo & Company lowered their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Finally, UBS Group reduced their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Match Group currently has a consensus rating of “Hold” and an average target price of $37.68.

Match Group Stock Performance

Shares of MTCH stock opened at $28.74 on Friday. The stock’s 50 day simple moving average is $32.61 and its 200 day simple moving average is $33.63. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

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 given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Match Group announced that its board has authorized a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Match Group

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 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 $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.77% of the stock is currently owned by corporate 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.