Erste Asset Management GmbH Has $1.77 Million Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Erste Asset Management GmbH raised its holdings in Match Group, Inc. (NASDAQ:MTCH) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,463 shares of the technology company’s stock after buying an additional 5,792 shares during the quarter. Erste Asset Management GmbH’s holdings in Match Group were worth $1,773,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTCH. Venturi Wealth Management LLC lifted its position in shares of 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 acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Match Group in the third quarter valued at $31,000. Northwest & Ethical Investments L.P. acquired a new position in shares of Match Group during the third quarter valued at about $57,000. Assetmark Inc. raised its holdings in shares of Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after purchasing an additional 378 shares during the period. Finally, Principal Securities Inc. grew its stake in shares of Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after buying an additional 2,652 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MTCH. Hsbc Global Res downgraded Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Loop Capital cut their target price on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. UBS Group decreased their price target 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. BTIG Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Evercore ISI cut shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective for the company. in a report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Match Group presently has a consensus rating of “Hold” and an average target price of $37.68.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction 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 owns 1,690 shares of the company’s stock, valued at $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

Match Group Price Performance

NASDAQ MTCH opened at $30.94 on Friday. The business’s fifty day moving average is $33.02 and its 200-day moving average is $34.17. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 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%. Research analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.46%. Match Group’s payout ratio is 37.62%.

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

Match Group 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.