Match Group, Inc. (NASDAQ:MTCH) Shares Acquired by Prudential PLC

Prudential PLC lifted its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 159.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,070 shares of the technology company’s stock after buying an additional 22,153 shares during the period. Prudential PLC’s holdings in Match Group were worth $1,180,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Intrepid Capital Management Inc. grew its position in Match Group by 17.2% during the 4th quarter. Intrepid Capital Management Inc. now owns 68,862 shares of the technology company’s stock worth $2,252,000 after purchasing an additional 10,091 shares during the period. Groupama Asset Managment acquired a new stake in Match Group during the fourth quarter worth about $41,663,000. National Bank of Canada FI boosted its position in Match Group by 12.3% in the 4th quarter. National Bank of Canada FI now owns 116,279 shares of the technology company’s stock worth $3,803,000 after purchasing an additional 12,770 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Match Group by 18.0% in the 4th quarter. Franklin Resources Inc. now owns 326,655 shares of the technology company’s stock valued at $10,685,000 after purchasing an additional 49,880 shares during the period. Finally, Edmond DE Rothschild Holding S.A. boosted its holdings in Match Group by 11.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 5,467,257 shares of the technology company’s stock worth $178,834,000 after buying an additional 541,556 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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 that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.77% of the company’s stock.

Match Group Stock Performance

MTCH opened at $27.85 on Tuesday. The business’s fifty day moving average is $32.47 and its two-hundred day moving average is $33.53. Match Group, Inc. has a one year low of $26.73 and a one year high of $38.84. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data 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 negative return on equity of 574.22% and a net margin of 15.84%. On average, analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.73%. Match Group’s payout ratio is 37.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MTCH shares. Truist Financial dropped 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 note on Thursday, December 12th. UBS Group cut their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Loop Capital decreased their price objective on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Finally, New Street Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Match Group currently has a consensus rating of “Hold” and a consensus target price of $37.68.

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.