Retirement Systems of Alabama Increases Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Retirement Systems of Alabama boosted its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 2,732.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,659,718 shares of the technology company’s stock after acquiring an additional 1,601,115 shares during the quarter. Retirement Systems of Alabama’s holdings in Match Group were worth $62,804,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Match Group during the second quarter valued at about $220,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Match Group by 3.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 577,885 shares of the technology company’s stock valued at $17,556,000 after acquiring an additional 17,540 shares during the last quarter. Penn Davis Mcfarland Inc. boosted its stake in Match Group by 1.0% in the second quarter. Penn Davis Mcfarland Inc. now owns 470,391 shares of the technology company’s stock valued at $14,290,000 after acquiring an additional 4,638 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Match Group by 7.3% during the second quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company’s stock worth $269,000 after purchasing an additional 598 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of Match Group by 8.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 13,476 shares of the technology company’s stock valued at $409,000 after purchasing an additional 1,010 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Trading Up 1.1 %

Match Group stock traded up $0.35 during mid-day trading on Friday, hitting $30.93. The company’s stock had a trading volume of 187,045 shares, compared to its average volume of 5,182,080. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $42.42. The stock’s fifty day moving average is $34.47 and its two-hundred day moving average is $34.11. The firm has a market capitalization of $7.77 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be issued a $0.19 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.46%.

Match Group declared that its board has approved a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MTCH shares. UBS Group cut their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company decreased their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday. Evercore ISI dropped their price objective on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday. Susquehanna reduced their target price on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $40.00 target price on shares of Match Group in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.06.

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

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.