Entropy Technologies LP Acquires Shares of 18,300 Match Group, Inc. (NASDAQ:MTCH)

Entropy Technologies LP bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 18,300 shares of the technology company’s stock, valued at approximately $599,000.

A number of other hedge funds also recently made changes to their positions in the business. Venturi Wealth Management LLC increased its holdings in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Match Group during the 3rd quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. bought a new position in shares of Match Group during the 3rd quarter valued at approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC bought a new stake in shares of Match Group in the 3rd quarter worth approximately $87,000. 94.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MTCH. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Susquehanna decreased their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. KeyCorp lowered their price objective on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. UBS Group cut their target price 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. Finally, Loop Capital lowered their price target on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research 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 company. According to MarketBeat.com, Match Group presently has an average rating of “Hold” and an average target price of $37.68.

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.77% of the company’s stock.

Match Group Trading Up 0.9 %

Shares of NASDAQ MTCH opened at $33.93 on Wednesday. The business has a 50-day moving average of $33.02 and a 200-day moving average of $34.67. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.14 and a beta of 1.45. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84.

Match Group (NASDAQ:MTCH) last released its quarterly 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 negative return on equity of 574.22% and a net margin of 15.84%. On average, analysts predict that Match Group, Inc. will post 2.49 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders 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 dividend on an annualized basis and a yield of 2.24%. Match Group’s payout ratio is 37.62%.

Match Group declared that its Board of Directors has approved a share repurchase 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 a sign that the company’s board of directors believes its shares are undervalued.

Match Group 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.