Match Group, Inc. (NASDAQ:MTCH) Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,447 shares of the technology company’s stock after selling 5,660 shares during the period. PNC Financial Services Group Inc.’s holdings in Match Group were worth $505,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Match Group during the fourth quarter valued at $327,000. Banco Santander S.A. boosted its holdings in shares of Match Group by 50.5% during the fourth quarter. Banco Santander S.A. now owns 26,521 shares of the technology company’s stock valued at $868,000 after acquiring an additional 8,901 shares during the period. Aviance Capital Partners LLC boosted its holdings in shares of Match Group by 5.5% during the fourth quarter. Aviance Capital Partners LLC now owns 60,512 shares of the technology company’s stock valued at $1,979,000 after acquiring an additional 3,163 shares during the period. Andra AP fonden boosted its holdings in shares of Match Group by 81.8% during the fourth quarter. Andra AP fonden now owns 866,369 shares of the technology company’s stock valued at $28,339,000 after acquiring an additional 389,897 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Match Group during the fourth quarter valued at $2,286,000. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MTCH shares. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Wells Fargo & Company reduced their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Morgan Stanley upped their price objective on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. BTIG Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Barclays reduced their price objective on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.68.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the transaction, the president now owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.77% of the company’s stock.

Match Group Trading Up 1.5 %

NASDAQ MTCH opened at $31.44 on Thursday. The stock’s 50-day moving average price is $32.94 and its two-hundred day moving average price is $34.03. The company has a market cap of $7.87 billion, a PE ratio of 15.56, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) 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%. Research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued 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 yield of 2.42%. Match Group’s payout ratio is presently 37.62%.

Match Group declared that its Board of Directors has authorized a share 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 reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Match Group 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.