Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Glenview Trust co

Glenview Trust co cut its holdings in Match Group, Inc. (NASDAQ:MTCH) by 34.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 42,300 shares of the technology company’s stock after selling 21,951 shares during the period. Glenview Trust co’s holdings in Match Group were worth $1,384,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. 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. Itau Unibanco Holding S.A. acquired a new position in Match Group in the 3rd quarter valued at $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group in the 3rd quarter valued at $57,000. Assetmark Inc. raised its holdings in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after acquiring an additional 378 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in 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 acquiring an additional 2,652 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Performance

Shares of MTCH stock opened at $30.94 on Monday. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The company’s 50-day simple moving average is $33.02 and its 200-day simple moving average is $34.13. 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 (NASDAQ:MTCH) last issued its quarterly earnings results 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%. As a group, research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group declared that its Board of Directors has initiated a share 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 buy up to 19% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Match Group Announces Dividend

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

Insider Transactions at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value 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 trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of several research reports. HSBC cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Wells Fargo & Company lowered their price objective on shares of 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, Truist Financial decreased their price target on shares of 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Match Group currently 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.