7,639 Shares in Match Group, Inc. (NASDAQ:MTCH) Purchased by Truist Financial Corp

Truist Financial Corp bought a new stake in Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,639 shares of the technology company’s stock, valued at approximately $250,000.

Other hedge funds also recently modified their holdings of the company. Empirical Finance LLC raised its position in shares of Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after buying an additional 384 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after acquiring an additional 605 shares during the last quarter. River Global Investors LLP raised its holdings in Match Group by 0.9% in the 3rd quarter. River Global Investors LLP now owns 82,382 shares of the technology company’s stock valued at $3,119,000 after acquiring an additional 732 shares during the last quarter. Prestige Wealth Management Group LLC lifted its stake in shares of Match Group by 17.2% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 5,128 shares of the technology company’s stock worth $194,000 after purchasing an additional 753 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group during the third quarter worth $31,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MTCH shares. HSBC lowered Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. New Street Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. Susquehanna decreased their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Evercore ISI lowered shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research report on Thursday, February 6th. Finally, Loop Capital cut their price target on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.68.

Match Group Stock Up 2.6 %

NASDAQ MTCH opened at $31.51 on Thursday. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The business has a 50 day moving average price of $33.24 and a two-hundred day moving average price of $34.43. The stock has a market cap of $7.91 billion, a PE ratio of 15.60, a P/E/G ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last announced 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%. Sell-side analysts anticipate 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. Stockholders 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 annualized dividend and a dividend yield of 2.41%. Match Group’s dividend payout ratio is presently 37.62%.

Match Group declared that its board has approved 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 reacquire up to 19% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.