Edgestream Partners L.P. Takes Position in Match Group, Inc. (NASDAQ:MTCH)

Edgestream Partners L.P. bought a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 69,882 shares of the technology company’s stock, valued at approximately $2,286,000.

A number of other hedge funds have also recently modified their holdings of the business. Metis Global Partners LLC boosted its holdings in shares of Match Group by 3.0% during the 4th quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock valued at $358,000 after buying an additional 318 shares in the last quarter. Cornerstone Investment Partners LLC boosted its holdings in shares of Match Group by 2.2% during the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock valued at $520,000 after buying an additional 349 shares in the last quarter. Assetmark Inc. raised its position in shares of 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 purchasing an additional 378 shares during the last quarter. Empirical Finance LLC raised its position in shares of Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after purchasing an additional 384 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

MTCH has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Loop Capital lowered their price target on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group lowered their price target on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Sixteen 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, the company presently has a consensus rating of “Hold” and an average target price of $37.68.

Match Group Stock Up 4.1 %

NASDAQ MTCH opened at $32.62 on Monday. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84. The firm has a market capitalization of $8.17 billion, a P/E ratio of 16.15, a PEG ratio of 0.82 and a beta of 1.45. The company has a 50-day moving average price of $33.18 and a 200-day moving average price of $34.34.

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 the consensus estimate 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, equities research analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.33%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

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

Insider Activity at Match Group

In related news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was 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 approximately $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by corporate insiders.

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.