Allianz SE Makes New $463,000 Investment in Match Group, Inc. (NASDAQ:MTCH)

Allianz SE purchased a new stake in Match Group, Inc. (NASDAQ:MTCH) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,127 shares of the technology company’s stock, valued at approximately $463,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTCH. Itau Unibanco Holding S.A. bought a new position in shares of Match Group during the 3rd quarter valued at about $31,000. Northwest & Ethical Investments L.P. bought a new position in Match Group during the 3rd quarter valued at approximately $57,000. Assetmark Inc. lifted its holdings in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after buying an additional 378 shares during the period. Principal Securities Inc. grew its position in shares of Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after buying an additional 2,652 shares during the last quarter. Finally, Quarry LP raised its holdings in Match Group by 126.3% in the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after purchasing an additional 1,651 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Loop Capital decreased their price target on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. UBS Group reduced their price target on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Truist Financial decreased their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus reduced their target price on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and an average price target of $37.68.

Match Group Stock Down 3.8 %

MTCH opened at $30.63 on Monday. The company has a market capitalization of $7.67 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The firm has a 50-day simple moving average of $32.86 and a two-hundred day simple moving average of $33.77. 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 analysts’ consensus estimates 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, sell-side analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given 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 2.48%. Match Group’s dividend payout ratio (DPR) is 37.62%.

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

Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares of the company’s stock, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

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.