Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 34.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,446 shares of the technology company’s stock after selling 9,020 shares during the quarter. Corient Private Wealth LLC’s holdings in Match Group were worth $571,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MTCH. Starboard Value LP purchased a new stake in shares of Match Group during the third quarter valued at $361,605,000. Paloma Partners Management Co lifted its position in Match Group by 510.3% during the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock worth $2,463,000 after acquiring an additional 54,422 shares during the period. Redwood Investment Management LLC purchased a new stake in Match Group during the 3rd quarter valued at about $2,789,000. Nisa Investment Advisors LLC increased its holdings in shares of Match Group by 94.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock valued at $1,947,000 after purchasing an additional 28,884 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MTCH. UBS Group dropped their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Stifel Nicolaus dropped their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company cut their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Piper Sandler restated an “overweight” rating and set a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Finally, BTIG Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.68.

Match Group Trading Down 3.8 %

Shares of Match Group stock opened at $30.63 on Friday. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The firm has a market capitalization of $7.67 billion, a PE ratio of 15.16, a P/E/G ratio of 0.82 and a beta of 1.45. The firm’s 50-day moving average price is $32.86 and its 200 day moving average price is $33.80.

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 net margin of 15.84% and a negative return on equity of 574.22%. On average, sell-side analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid 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 2.48%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Match Group declared that its Board of Directors has approved a share buyback program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Match Group

In other news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.77% of the company’s stock.

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.