Match Group, Inc. (NASDAQ:MTCH) Position Increased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co increased its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 31.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,485 shares of the technology company’s stock after buying an additional 7,067 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Match Group were worth $964,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Korea Investment CORP grew its position in shares of Match Group by 37.1% during the fourth quarter. Korea Investment CORP now owns 376,965 shares of the technology company’s stock worth $12,331,000 after acquiring an additional 102,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Match Group by 14.7% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 577,211 shares of the technology company’s stock worth $18,881,000 after purchasing an additional 74,132 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Match Group by 12.8% during the fourth quarter. Prestige Wealth Management Group LLC now owns 5,785 shares of the technology company’s stock valued at $189,000 after buying an additional 657 shares during the last quarter. Sound Shore Management Inc. CT bought a new stake in shares of Match Group during the fourth quarter valued at approximately $39,962,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Match Group during the fourth quarter worth approximately $2,515,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Price Performance

MTCH stock opened at $30.63 on Monday. The firm has a market capitalization of $7.67 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The company’s 50 day simple moving average is $32.86 and its 200-day simple moving average is $33.77.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. Sell-side analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

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

Match Group Announces Dividend

The firm 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. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.48%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Insider Activity

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 shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now directly owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.77% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MTCH has been the topic of several recent analyst reports. BTIG Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Barclays reduced their price objective on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. UBS Group lowered their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target on shares of 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, Morgan Stanley raised their price objective on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Match Group currently has an average rating of “Hold” and an average price target of $37.68.

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.