New York State Common Retirement Fund Sells 7,500 Shares of Match Group, Inc. (NASDAQ:MTCH)

New York State Common Retirement Fund lowered its stake in Match Group, Inc. (NASDAQ:MTCH) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,333 shares of the technology company’s stock after selling 7,500 shares during the period. New York State Common Retirement Fund owned 0.05% of Match Group worth $4,459,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MTCH. Creative Planning boosted its holdings in Match Group by 35.1% in the third quarter. Creative Planning now owns 17,149 shares of the technology company’s stock valued at $649,000 after acquiring an additional 4,460 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Match Group by 3.0% in the third quarter. Private Advisor Group LLC now owns 35,099 shares of the technology company’s stock valued at $1,328,000 after acquiring an additional 1,006 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Match Group by 3,684.0% in the third quarter. International Assets Investment Management LLC now owns 76,323 shares of the technology company’s stock valued at $2,888,000 after acquiring an additional 74,306 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Match Group by 88.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,058 shares of the technology company’s stock valued at $910,000 after acquiring an additional 11,262 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Match Group by 79.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 156,451 shares of the technology company’s stock valued at $5,793,000 after acquiring an additional 69,270 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MTCH. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Match Group in a research report on Thursday, December 12th. Loop Capital lowered their price objective on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Finally, StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.68.

Match Group Stock Down 0.5 %

Match Group stock opened at $31.71 on Friday. The business has a 50-day simple moving average of $33.37 and a two-hundred day simple moving average of $34.52. The company has a market cap of $7.96 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. Research analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.40%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Match Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

About Match Group

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.