Easterly Investment Partners LLC Has $1.09 Million Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Easterly Investment Partners LLC decreased its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 32.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 33,250 shares of the technology company’s stock after selling 16,269 shares during the quarter. Easterly Investment Partners LLC’s holdings in Match Group were worth $1,088,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Starboard Value LP bought a new position in shares of Match Group in the 3rd quarter valued at about $361,605,000. Paloma Partners Management Co lifted its stake in Match Group by 510.3% in the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock valued at $2,463,000 after purchasing an additional 54,422 shares during the last quarter. Redwood Investment Management LLC acquired a new position in shares of Match Group in the third quarter valued at $2,789,000. Nisa Investment Advisors LLC lifted its holdings in Match Group by 94.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock worth $1,947,000 after purchasing an additional 28,884 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings 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 valued at $211,818,000 after purchasing an additional 939,078 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

MTCH has been the subject of a number of research analyst reports. BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $33.00 price target (down previously from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Hsbc Global Res lowered shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Match Group in a research note on Thursday, December 12th. Finally, New Street Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.68.

Insider Transactions at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on Friday, March 7th. The shares were 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 owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Match Group Price Performance

NASDAQ:MTCH opened at $31.84 on Friday. The company’s 50-day moving average is $32.90 and its two-hundred day moving average is $33.83. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84.

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 negative return on equity of 574.22% and a net margin of 15.84%. As a group, equities analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business 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 $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.39%. Match Group’s dividend payout ratio is currently 37.62%.

Match Group declared that its board has initiated a stock buyback program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

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.