Franklin Resources Inc. Purchases 49,880 Shares of Match Group, Inc. (NASDAQ:MTCH)

Franklin Resources Inc. grew its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 18.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 326,655 shares of the technology company’s stock after buying an additional 49,880 shares during the period. Franklin Resources Inc.’s holdings in Match Group were worth $10,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP grew its stake in shares of Match Group by 168.5% in the third quarter. Quantinno Capital Management LP now owns 60,610 shares of the technology company’s stock valued at $2,293,000 after acquiring an additional 38,037 shares in the last quarter. Wellington Management Group LLP boosted its holdings in 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 during the period. National Bank of Canada FI grew its position 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 worth $3,917,000 after purchasing an additional 31,516 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Match Group during the third quarter worth approximately $2,134,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Match Group by 1.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 74,284 shares of the technology company’s stock valued at $2,811,000 after buying an additional 1,088 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of the business’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 transaction, the president now owns 1,690 shares in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Match Group Stock Down 2.9 %

NASDAQ MTCH opened at $27.03 on Wednesday. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a twelve month low of $26.62 and a twelve month high of $38.84. The stock has a fifty day simple moving average of $32.13 and a 200 day simple moving average of $33.42.

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

Match Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors 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. Stockholders of record on Thursday, April 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Analysts Set New Price Targets

MTCH has been the topic of a number of analyst reports. Piper Sandler reissued an “overweight” rating and set a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. Stifel Nicolaus reduced their target price on Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 price target (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.68.

Match Group Company 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.