Match Group, Inc. (NASDAQ:MTCH) Shares Acquired by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC grew its stake in Match Group, Inc. (NASDAQ:MTCH) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,889 shares of the technology company’s stock after purchasing an additional 349 shares during the period. Cornerstone Investment Partners LLC’s holdings in Match Group were worth $520,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in shares of Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter worth $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the third quarter worth $57,000. Solstein Capital LLC acquired a new position in Match Group during the third quarter worth $87,000. Finally, Quarry LP grew its holdings in Match Group by 126.3% during the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after acquiring an additional 1,651 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stifel Nicolaus dropped their price objective on Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 price objective (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Truist Financial decreased their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, Hsbc Global Res downgraded Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Trading Down 4.8 %

NASDAQ MTCH opened at $30.19 on Tuesday. The business’s 50-day moving average price is $33.32 and its 200 day moving average price is $34.48. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The company has a market capitalization of $7.58 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last released its 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 negative return on equity of 574.22% and a net margin of 15.84%. Equities analysts predict that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.52%. Match Group’s dividend payout ratio is presently 37.62%.

Match Group announced that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is 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.