Boston Partners Trims Stake in Match Group, Inc. (NASDAQ:MTCH)

Boston Partners cut its position in Match Group, Inc. (NASDAQ:MTCH) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,351,834 shares of the technology company’s stock after selling 21,203 shares during the quarter. Boston Partners’ holdings in Match Group were worth $44,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of MTCH. Starboard Value LP acquired a new stake in shares of Match Group in the third quarter valued at $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 purchasing an additional 1,601,115 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Match Group during the 4th quarter worth $45,768,000. Seizert Capital Partners LLC grew its stake in Match Group by 468.6% during the 4th quarter. Seizert Capital Partners LLC now owns 1,481,967 shares of the technology company’s stock worth $48,475,000 after purchasing an additional 1,221,347 shares in the last quarter. Finally, KBC Group NV grew its stake 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 worth $36,730,000 after purchasing an additional 1,090,127 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTCH. Evercore ISI cut Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price for the company. in a research note on Thursday, February 6th. Morgan Stanley lifted their price target on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group decreased their price target on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Barclays reduced their target price on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. Sixteen 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Trading Up 1.5 %

NASDAQ:MTCH opened at $31.44 on Thursday. The firm has a market capitalization of $7.87 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The stock has a 50 day moving average of $32.94 and a 200-day moving average of $34.03. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS 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%. As a group, analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.42%. Match Group’s dividend payout ratio is presently 37.62%.

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

Insider Transactions at Match Group

In other news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.

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.