Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Cohen Capital Management Inc.

Cohen Capital Management Inc. trimmed its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,968 shares of the technology company’s stock after selling 1,989 shares during the quarter. Cohen Capital Management Inc.’s holdings in Match Group were worth $2,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MTCH. Venturi Wealth Management LLC boosted its stake in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Match Group in the 3rd quarter valued at about $31,000. Northwest & Ethical Investments L.P. bought a new position in shares of Match Group during the 3rd quarter valued at about $57,000. Solstein Capital LLC acquired a new position in shares of Match Group in the 3rd quarter worth approximately $87,000. Finally, Blue Trust Inc. raised its holdings in shares of Match Group by 1,003.4% in the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the technology company’s stock worth $98,000 after purchasing an additional 2,348 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Trading Down 3.2 %

Shares of NASDAQ:MTCH opened at $32.77 on Friday. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The business has a fifty day simple moving average of $33.35 and a 200 day simple moving average of $34.60.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. On average, sell-side analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Match Group Dividend Announcement

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 given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MTCH. BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Stifel Nicolaus decreased their target price on Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Barclays reduced their target price on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.