Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. raised its position in Match Group, Inc. (NASDAQ:MTCH) by 96.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,071 shares of the technology company’s stock after purchasing an additional 2,489 shares during the quarter. Blue Trust Inc.’s holdings in Match Group were worth $166,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MTCH. Venturi Wealth Management LLC lifted its holdings in shares of Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after acquiring an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter worth $31,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group during the third quarter worth $57,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after buying an additional 1,500 shares in the last quarter. Finally, Solstein Capital LLC purchased a new stake in shares of Match Group in the 3rd quarter valued at $87,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on MTCH shares. New Street Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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. Loop Capital decreased their target price on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Finally, Evercore ISI cut their price target on Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.72.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of the business’s 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 sale, the director now directly owns 12,398 shares in the company, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Match Group Trading Up 3.0 %

Match Group stock opened at $36.47 on Wednesday. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.10 and a beta of 1.45. The stock has a 50 day moving average of $32.85 and a two-hundred day moving average of $34.66. Match Group, Inc. has a twelve month low of $27.66 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. Equities analysts predict that Match Group, Inc. will post 2.37 earnings per share for the current year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were given a dividend of $0.19 per share. The ex-dividend date was Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.08%. Match Group’s payout ratio is 33.93%.

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

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.