Arizona State Retirement System Cuts Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Arizona State Retirement System lessened its holdings in Match Group, Inc. (NASDAQ:MTCH) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,151 shares of the technology company’s stock after selling 1,157 shares during the period. Arizona State Retirement System’s holdings in Match Group were worth $2,327,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC raised its stake 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 valued at $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Match Group in the 3rd quarter valued at $31,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group in the 3rd quarter valued at $57,000. Assetmark Inc. raised its stake 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 valued at $99,000 after acquiring an additional 378 shares during the period. Finally, Principal Securities Inc. raised its stake 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 valued at $107,000 after acquiring an additional 2,652 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

NASDAQ MTCH opened at $32.03 on Tuesday. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The company has a 50-day simple moving average of $33.17 and a 200-day simple moving average of $34.31. The firm has a market capitalization of $8.02 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last posted 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%. Equities analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

Match Group declared that its board has initiated a share repurchase plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

MTCH has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Match Group in a research note on Monday, December 9th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Bank of America lifted their price target on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Barclays dropped their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.68.

Insider Buying and Selling at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the business’s 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 of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by company insiders.

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.