Allspring Global Investments Holdings LLC Buys 7,451 Shares of Match Group, Inc. (NASDAQ:MTCH)

Allspring Global Investments Holdings LLC boosted its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 60.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,836 shares of the technology company’s stock after buying an additional 7,451 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Match Group were worth $647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC lifted its holdings in Match Group by 617.3% during the 3rd 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 in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Match Group during the 3rd quarter valued at about $31,000. Northwest & Ethical Investments L.P. bought a new stake in Match Group during the 3rd quarter valued at about $57,000. Solstein Capital LLC bought a new stake in Match Group during the 3rd quarter valued at about $87,000. Finally, Blue Trust Inc. lifted its holdings in Match Group by 1,003.4% during the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the technology company’s stock valued at $98,000 after buying an additional 2,348 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MTCH shares. Bank of America boosted their price target on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. HSBC lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Match Group in a report on Monday, December 9th. Loop Capital reduced their price target on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Finally, Susquehanna reduced their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Match Group currently has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Trading Up 0.2 %

NASDAQ:MTCH opened at $32.85 on Tuesday. The company has a market cap of $8.25 billion, a PE ratio of 16.26, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The company’s 50 day moving average is $33.36 and its two-hundred day moving average is $34.58.

Match Group (NASDAQ:MTCH) last released its 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%. As a group, analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is presently 37.62%.

Match Group announced that its board has approved 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 purchase up to 19% of its shares through open market purchases. Shares repurchase plans 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.