Rhumbline Advisers Cuts Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Rhumbline Advisers reduced its position in Match Group, Inc. (NASDAQ:MTCH) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 462,166 shares of the technology company’s stock after selling 11,309 shares during the quarter. Rhumbline Advisers owned 0.18% of Match Group worth $15,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTCH. Starboard Value LP purchased a new position in shares of Match Group in the 3rd quarter worth about $361,605,000. Retirement Systems of Alabama boosted its holdings in Match Group by 2,732.1% during the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after acquiring an additional 1,601,115 shares during the period. KBC Group NV boosted its holdings in Match Group by 3,325.7% during the 4th quarter. KBC Group NV now owns 1,122,906 shares of the technology company’s stock valued at $36,730,000 after acquiring an additional 1,090,127 shares during the period. Pacer Advisors Inc. boosted its holdings in Match Group by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after acquiring an additional 939,078 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Match Group by 56.8% during the 4th quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company’s stock valued at $78,733,000 after acquiring an additional 866,026 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Performance

Shares of NASDAQ:MTCH opened at $32.77 on Friday. The firm has a market capitalization of $8.23 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.82 and a beta of 1.45. The stock has a 50 day moving average price of $33.35 and a 200-day moving average price of $34.60. Match Group, Inc. has a 52-week low of $27.66 and a 52-week 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 the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. On average, equities analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.32%. Match Group’s payout ratio is currently 37.62%.

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

Analyst Ratings Changes

MTCH has been the subject of several analyst reports. Loop Capital dropped 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $33.00 target price (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Truist Financial dropped their target price on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. New Street Research cut Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Finally, Piper Sandler restated an “overweight” rating and set a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Match Group has a consensus rating of “Hold” and an average 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.