Handelsbanken Fonder AB Decreases Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Handelsbanken Fonder AB trimmed its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 57,800 shares of the technology company’s stock after selling 5,300 shares during the period. Handelsbanken Fonder AB’s holdings in Match Group were worth $1,891,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Starboard Value LP purchased a new position in Match Group in the third quarter worth $361,605,000. Retirement Systems of Alabama grew its stake in Match Group by 2,732.1% during the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after buying an additional 1,601,115 shares during the last quarter. KBC Group NV increased its position in Match Group by 3,325.7% during the 4th quarter. KBC Group NV now owns 1,122,906 shares of the technology company’s stock valued at $36,730,000 after buying an additional 1,090,127 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Match Group by 17.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Match Group by 56.8% during the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company’s stock worth $78,733,000 after buying an additional 866,026 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of recent research reports. Susquehanna reduced their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. Evercore ISI downgraded Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target on the stock. in a research report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Match Group in a research note on Thursday, December 12th. Finally, Loop Capital cut their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.68.

Match Group Stock Performance

Match Group stock opened at $32.48 on Wednesday. The firm has a market capitalization of $8.16 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The stock’s 50 day moving average price is $33.38 and its 200 day moving average price is $34.56. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84.

Match Group (NASDAQ:MTCH) last released its quarterly 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%. On average, analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.34%. Match Group’s dividend payout ratio is currently 37.62%.

Match Group declared that its board has approved a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.