Krilogy Financial LLC Trims Holdings in Match Group, Inc. (NASDAQ:MTCH)

Krilogy Financial LLC lessened its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,690 shares of the technology company’s stock after selling 2,615 shares during the period. Krilogy Financial LLC’s holdings in Match Group were worth $873,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Integrated Investment Consultants LLC purchased a new position in shares of Match Group during the 4th quarter worth approximately $359,000. Merit Financial Group LLC bought a new position in Match Group in the 4th quarter valued at approximately $227,000. Empirical Asset Management LLC bought a new position in Match Group in the 4th quarter valued at approximately $240,000. Palliser Capital UK Ltd lifted its holdings in shares of Match Group by 76.9% during the 4th quarter. Palliser Capital UK Ltd now owns 233,594 shares of the technology company’s stock valued at $7,641,000 after buying an additional 101,563 shares during the period. Finally, Czech National Bank lifted its holdings in shares of Match Group by 3.6% during the 4th quarter. Czech National Bank now owns 54,442 shares of the technology company’s stock valued at $1,781,000 after buying an additional 1,907 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MTCH. Truist Financial reduced their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Morgan Stanley upped their price objective on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. KeyCorp cut their price target on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company cut their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Finally, Stifel Nicolaus cut their price target on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.72.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $32.74 on Monday. The company has a market cap of $8.22 billion, a P/E ratio of 14.62, a PEG ratio of 1.10 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. The firm has a 50-day simple moving average of $32.15 and a two-hundred day simple moving average of $34.44.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

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

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of the firm’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 transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.