Abacus FCF Advisors LLC Has $1.91 Million Position in Match Group, Inc. (NASDAQ:MTCH)

Abacus FCF Advisors LLC increased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 51.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,469 shares of the technology company’s stock after acquiring an additional 19,762 shares during the period. Abacus FCF Advisors LLC’s holdings in Match Group were worth $1,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Investment Management Corp of Ontario bought a new position in shares of Match Group in the 3rd quarter valued at $317,000. Quantinno Capital Management LP raised its stake in Match Group by 168.5% during the third quarter. Quantinno Capital Management LP now owns 60,610 shares of the technology company’s stock worth $2,293,000 after acquiring an additional 38,037 shares in the last quarter. State Street Corp lifted its holdings in shares of Match Group by 2.3% in the third quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after acquiring an additional 391,977 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Match Group by 12.1% in the 3rd quarter. Wellington Management Group LLP now owns 8,508 shares of the technology company’s stock valued at $322,000 after purchasing an additional 919 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Match Group by 43.8% during the 3rd quarter. National Bank of Canada FI now owns 103,509 shares of the technology company’s stock valued at $3,917,000 after purchasing an additional 31,516 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Stock Down 3.1 %

NASDAQ MTCH opened at $27.85 on Tuesday. The company has a market cap of $6.97 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a 52 week low of $26.73 and a 52 week high of $38.84. The firm’s 50-day simple moving average is $32.47 and its two-hundred day simple moving average is $33.53.

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

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

Match Group Dividend Announcement

The firm 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.73%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is 37.62%.

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MTCH shares. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Barclays reduced their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Evercore ISI cut Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target on the stock. in a report on Thursday, February 6th. Bank of America boosted their price objective on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $33.00 price target (down previously from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Fifteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.