Stifel Financial Corp Sells 3,162 Shares of Match Group, Inc. (NASDAQ:MTCH)

Stifel Financial Corp lessened its holdings in Match Group, Inc. (NASDAQ:MTCH) by 14.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,863 shares of the technology company’s stock after selling 3,162 shares during the quarter. Stifel Financial Corp’s holdings in Match Group were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Starboard Value LP purchased a new stake in Match Group during the third quarter valued at about $361,605,000. Pacer Advisors Inc. grew its stake in Match Group by 88.5% in the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after buying an additional 2,940,667 shares in the last quarter. FMR LLC boosted its stake in Match Group by 10.4% in the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after buying an additional 524,144 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Match Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock valued at $77,342,000 after buying an additional 12,379 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Match Group by 75.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after acquiring an additional 977,090 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Match Group in a report on Thursday, December 12th. Barclays cut their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Truist Financial cut their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Thirteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

Match Group Stock Performance

Shares of NASDAQ:MTCH opened at $33.22 on Thursday. The business has a 50-day simple moving average of $33.62 and a two-hundred day simple moving average of $34.24. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42.

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

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

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.