Raymond James Financial Inc. Purchases Shares of 151,365 Match Group, Inc. (NASDAQ:MTCH)

Raymond James Financial Inc. acquired a new position in Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 151,365 shares of the technology company’s stock, valued at approximately $4,951,000. Raymond James Financial Inc. owned 0.06% of Match Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Match Group during the fourth quarter worth about $704,000. Seizert Capital Partners LLC grew its holdings in shares of Match Group by 468.6% during the 4th quarter. Seizert Capital Partners LLC now owns 1,481,967 shares of the technology company’s stock worth $48,475,000 after purchasing an additional 1,221,347 shares in the last quarter. Assetmark Inc. increased its position in shares of Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after purchasing an additional 378 shares during the period. Cornerstone Investment Partners LLC raised its stake in shares of Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock valued at $520,000 after purchasing an additional 349 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Match Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after purchasing an additional 69,947 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

MTCH has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. UBS Group cut their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Hsbc Global Res lowered shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, New Street Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Stock Performance

MTCH opened at $31.27 on Wednesday. The stock has a fifty day moving average of $32.92 and a 200-day moving average of $33.86. The company has a market capitalization of $7.83 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84.

Match Group (NASDAQ:MTCH) last announced its 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 negative return on equity of 574.22% and a net margin of 15.84%. On average, equities research analysts predict that Match Group, Inc. will post 2.44 earnings per share 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.43%. Match Group’s payout ratio is currently 37.62%.

Match Group declared that its board has authorized a stock buyback program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now directly owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.77% of the stock is currently owned by insiders.

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.