Evermay Wealth Management LLC Reduces Position in Match Group, Inc. (NASDAQ:MTCH)

Evermay Wealth Management LLC trimmed its position in Match Group, Inc. (NASDAQ:MTCH) by 65.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,716 shares of the technology company’s stock after selling 3,215 shares during the quarter. Evermay Wealth Management LLC’s holdings in Match Group were worth $56,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTCH. Manning & Napier Advisors LLC purchased a new position in Match Group during the 4th quarter valued at $4,090,000. Swedbank AB increased its position in shares of Match Group by 5.0% during the fourth quarter. Swedbank AB now owns 652,008 shares of the technology company’s stock valued at $21,327,000 after buying an additional 31,108 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Match Group by 330.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 328,281 shares of the technology company’s stock worth $10,738,000 after buying an additional 252,078 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after buying an additional 939,078 shares during the period. Finally, Hunter Perkins Capital Management LLC bought a new stake in Match Group during the 4th quarter valued at approximately $708,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Trading Up 1.4 %

Shares of MTCH opened at $35.70 on Friday. The firm has a fifty day simple moving average of $32.80 and a two-hundred day simple moving average of $34.66. The firm has a market cap of $8.96 billion, a PE ratio of 15.94, a P/E/G ratio of 1.08 and a beta of 1.45. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $39.91.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, January 6th. Match Group’s dividend payout ratio is 33.93%.

Match Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group lowered their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Evercore ISI dropped their target price on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Truist Financial decreased their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. BTIG Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Loop Capital decreased their target price 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. Fourteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.72.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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.