Everence Capital Management Inc. Makes New $250,000 Investment in Match Group, Inc. (NASDAQ:MTCH)

Everence Capital Management Inc. bought a new stake in Match Group, Inc. (NASDAQ:MTCH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,640 shares of the technology company’s stock, valued at approximately $250,000.

Other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its stake in Match Group by 617.3% in the third 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 during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group in the 3rd quarter valued at approximately $31,000. Quarry LP boosted its stake in Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the third quarter valued at approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MTCH. Truist Financial reduced their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. KeyCorp dropped their price target on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Stifel Nicolaus decreased their price objective on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Finally, Barclays dropped their target price on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Thirteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.68.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.77% of the company’s stock.

Match Group Trading Down 1.7 %

Shares of MTCH opened at $31.86 on Thursday. The company’s fifty day simple moving average is $32.58 and its 200 day simple moving average is $34.36. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $42.42. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.18 and a beta of 1.45.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

Match Group declared that its board has authorized a stock repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.