Assetmark Inc. Has $99,000 Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Assetmark Inc. raised its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 14.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,035 shares of the technology company’s stock after purchasing an additional 378 shares during the quarter. Assetmark Inc.’s holdings in Match Group were worth $99,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its holdings in Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group during the third quarter worth $31,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group during the third quarter worth $57,000. Quarry LP lifted its holdings in shares of Match Group by 126.3% during the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after buying an additional 1,651 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Match Group by 420.3% during the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after buying an additional 2,652 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Trading Up 2.9 %

NASDAQ:MTCH opened at $30.94 on Friday. The stock has a market cap of $7.75 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The stock’s 50-day moving average is $33.02 and its 200-day moving average is $34.17. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84.

Match Group (NASDAQ:MTCH) last released its quarterly 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 negative return on equity of 574.22% and a net margin of 15.84%. As a group, equities analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is currently 37.62%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their target price on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 target price (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. UBS Group dropped their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company dropped their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Finally, Evercore ISI downgraded Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Match Group presently has a consensus rating of “Hold” and a consensus target price of $37.68.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on 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 directly owns 1,690 shares of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.77% of the company’s stock.

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.