Bleakley Financial Group LLC Sells 383 Shares of Match Group, Inc. (NASDAQ:MTCH)

Bleakley Financial Group LLC trimmed its stake in Match Group, Inc. (NASDAQ:MTCH) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,966 shares of the technology company’s stock after selling 383 shares during the quarter. Bleakley Financial Group LLC’s holdings in Match Group were worth $293,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MTCH. Venturi Wealth Management LLC grew 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 purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Match Group in the third quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. bought a new position in Match Group in the third quarter valued at approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,500 shares during the period. Finally, Solstein Capital LLC bought a new position in shares of Match Group during the 3rd quarter worth approximately $87,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is owned by corporate insiders.

Match Group Trading Up 0.9 %

NASDAQ MTCH opened at $33.93 on Wednesday. The business’s 50-day moving average price is $33.02 and its two-hundred day moving average price is $34.67. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84. The firm has a market capitalization of $8.52 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.62 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 2.49 earnings per share for the current fiscal year.

Match Group declared that its board has authorized a share 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 repurchase up to 19% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.24%. Match Group’s payout ratio is 37.62%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Stifel Nicolaus reduced their target price on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Bank of America lifted their target price on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Evercore ISI downgraded Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research note on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.68.

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.