Mirae Asset Global Investments Co. Ltd. Acquires 6,645 Shares of Match Group, Inc. (NASDAQ:MTCH)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 27.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,703 shares of the technology company’s stock after buying an additional 6,645 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Match Group were worth $1,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,500 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Match Group by 42.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 56,404 shares of the technology company’s stock worth $2,134,000 after purchasing an additional 16,768 shares in the last quarter. CX Institutional bought a new position in Match Group in the 3rd quarter worth about $215,000. Creative Planning boosted its stake in Match Group by 35.1% in the 3rd quarter. Creative Planning now owns 17,149 shares of the technology company’s stock worth $649,000 after purchasing an additional 4,460 shares during the period. Finally, Swedbank AB grew its holdings in Match Group by 25.6% during the 3rd quarter. Swedbank AB now owns 620,900 shares of the technology company’s stock valued at $23,495,000 after buying an additional 126,400 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent analyst reports. Loop Capital lowered their price target on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Bank of America increased their target price on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Morgan Stanley boosted their price target on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Barclays lowered their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Truist Financial reduced their target price on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Match Group presently has a consensus rating of “Hold” and an average target price of $37.68.

Match Group Trading Up 0.9 %

Shares of NASDAQ:MTCH opened at $33.93 on Wednesday. The stock has a market capitalization of $8.52 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. The stock’s 50-day moving average price is $33.02 and its 200-day moving average price is $34.67. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results 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%. As a group, research analysts predict that Match Group, Inc. will post 2.49 EPS for the current year.

Match Group announced that its board has initiated a stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors 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 dividend on an annualized basis and a yield of 2.24%. Match Group’s dividend payout ratio is currently 37.62%.

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.