Sumitomo Mitsui Trust Group Inc. Sells 11,611 Shares of Match Group, Inc. (NASDAQ:MTCH)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 486,316 shares of the technology company’s stock after selling 11,611 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Match Group worth $15,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in 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 purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Match Group in the 3rd quarter worth about $31,000. Northwest & Ethical Investments L.P. acquired a new stake in Match Group in the 3rd quarter worth about $57,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Match Group by 433.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Solstein Capital LLC acquired a new stake in Match Group in the 3rd quarter worth about $87,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Price Performance

MTCH opened at $34.00 on Thursday. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.14 and a beta of 1.45. The company’s 50 day moving average price is $33.04 and its two-hundred day moving average price is $34.68.

Match Group (NASDAQ:MTCH) last posted its 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 negative return on equity of 574.22% and a net margin of 15.84%. As a group, equities research analysts predict that Match Group, Inc. will post 2.49 EPS for the current year.

Match Group declared that its board has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Insider Activity

In other news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on 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 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 document filed with the SEC, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. KeyCorp dropped their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. UBS Group dropped their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Finally, Barclays dropped their target price on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.