Brandywine Global Investment Management LLC Has $2.22 Million Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Brandywine Global Investment Management LLC decreased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 67,768 shares of the technology company’s stock after selling 5,660 shares during the period. Brandywine Global Investment Management LLC’s holdings in Match Group were worth $2,217,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MTCH. Mawer Investment Management Ltd. grew its position in Match Group by 716.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company’s stock valued at $171,889,000 after acquiring an additional 4,611,598 shares during the last quarter. Norges Bank bought a new stake in shares of Match Group during the 4th quarter valued at approximately $112,176,000. Arrowstreet Capital Limited Partnership increased its position in Match Group by 110.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock worth $183,968,000 after purchasing an additional 2,952,470 shares in the last quarter. DnB Asset Management AS lifted its stake in Match Group by 4,659.2% in the 4th quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company’s stock valued at $62,643,000 after purchasing an additional 1,874,853 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Match Group by 2,732.1% in the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after buying an additional 1,601,115 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction dated 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 directly owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is currently owned by company insiders.

Match Group Stock Performance

Match Group stock opened at $31.47 on Thursday. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The stock’s 50 day moving average price is $32.78 and its two-hundred day moving average price is $33.70.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) 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, equities research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s payout ratio is currently 37.62%.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several research analyst reports. Barclays lowered their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Match Group in a report on Monday, December 9th. Evercore ISI lowered shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective for the company. in a report on Thursday, February 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.68.

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.