AustralianSuper Pty Ltd Boosts Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

AustralianSuper Pty Ltd boosted its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 149.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 733,536 shares of the technology company’s stock after acquiring an additional 439,432 shares during the period. AustralianSuper Pty Ltd owned 0.29% of Match Group worth $23,994,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in Match Group by 617.3% during the third 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Match Group during the third quarter valued at $31,000. Northwest & Ethical Investments L.P. purchased a new position in Match Group during the third quarter valued at $57,000. Solstein Capital LLC purchased a new position in Match Group during the third quarter valued at $87,000. Finally, Blue Trust Inc. grew its stake in Match Group by 1,003.4% during the third quarter. Blue Trust Inc. now owns 2,582 shares of the technology company’s stock valued at $98,000 after acquiring an additional 2,348 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Match Group

In other 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by company insiders.

Match Group Price Performance

Shares of MTCH opened at $34.69 on Friday. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84. The company has a 50-day moving average of $33.09 and a 200 day moving average of $34.67. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.14 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that Match Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Match Group announced that its board has approved a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Match Group Announces Dividend

The business also recently disclosed 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 2.19%. Match Group’s payout ratio is 37.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MTCH shares. Morgan Stanley raised their target price on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. UBS Group dropped their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. KeyCorp dropped their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Susquehanna dropped their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Sixteen investment 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 an average rating of “Hold” and a consensus price target of $37.68.

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.