Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 4,659.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,915,093 shares of the technology company’s stock after buying an additional 1,874,853 shares during the quarter. DnB Asset Management AS owned about 0.76% of Match Group worth $62,643,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in Match Group during the third quarter worth approximately $31,000. Northwest & Ethical Investments L.P. acquired a new position in shares of Match Group during the 3rd quarter valued at $57,000. Assetmark Inc. grew its stake in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after buying an additional 378 shares in the last quarter. Principal Securities Inc. boosted 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 worth $107,000 after acquiring an additional 2,652 shares during the period. Finally, Quarry LP grew its position in Match Group by 126.3% in the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock valued at $112,000 after acquiring an additional 1,651 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 0.0 %

Shares of Match Group stock opened at $31.84 on Friday. The firm has a market capitalization of $7.97 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84. The stock’s fifty day moving average is $32.90 and its 200-day moving average is $33.83.

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

Match Group announced that its board has authorized a stock buyback program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Match Group Dividend Announcement

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 issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction on 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 sale, the president now owns 1,690 shares in the company, valued at approximately $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 accessible through this hyperlink. 0.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MTCH has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Bank of America raised their price objective on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. 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 note on Thursday, February 6th. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Truist Financial reduced their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.