Manning & Napier Advisors LLC Invests $4.09 Million in Match Group, Inc. (NASDAQ:MTCH)

Manning & Napier Advisors LLC bought a new stake in Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, HoldingsChannel reports. The firm bought 125,045 shares of the technology company’s stock, valued at approximately $4,090,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC grew 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 valued at $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Match Group in the 3rd quarter valued at about $31,000. Quarry LP grew its holdings in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after purchasing an additional 461 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the third quarter worth approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after buying an additional 1,500 shares during the period. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Match Group in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Loop Capital dropped their price objective 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. Barclays cut their target price on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, KeyCorp decreased their price target on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.72.

Match Group Trading Down 0.7 %

Shares of NASDAQ:MTCH opened at $35.18 on Thursday. The firm has a 50 day moving average of $32.54 and a 200-day moving average of $34.62. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $39.91. The stock has a market capitalization of $8.83 billion, a PE ratio of 15.71, a PEG ratio of 1.00 and a beta of 1.45.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th were given a dividend of $0.19 per share. The ex-dividend date was Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.16%. Match Group’s dividend payout ratio is currently 33.93%.

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

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s 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 completion of the transaction, the director now owns 12,398 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.