Prestige Wealth Management Group LLC Buys 657 Shares of Match Group, Inc. (NASDAQ:MTCH)

Prestige Wealth Management Group LLC grew its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,785 shares of the technology company’s stock after buying an additional 657 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Match Group were worth $189,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Starboard Value LP acquired a new stake in Match Group during the 3rd quarter worth approximately $361,605,000. Retirement Systems of Alabama raised its stake in shares of Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after acquiring an additional 1,601,115 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Match Group during the fourth quarter worth $45,768,000. Sound Shore Management Inc. CT bought a new stake in shares of Match Group in the fourth quarter worth $39,962,000. Finally, Seizert Capital Partners LLC increased its holdings in Match Group by 468.6% in the fourth quarter. Seizert Capital Partners LLC now owns 1,481,967 shares of the technology company’s stock valued at $48,475,000 after purchasing an additional 1,221,347 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial cut their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus reduced 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 decreased their target price on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Bank of America boosted their price target on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley increased their price objective on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $37.68.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares of the company’s stock, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.77% of the company’s stock.

Match Group Stock Down 1.2 %

NASDAQ MTCH opened at $31.27 on Wednesday. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84. The business has a 50 day moving average price of $32.92 and a 200-day moving average price of $33.86. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 15.48, a P/E/G 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 earnings per share (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%. On average, equities research analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.43%. Match Group’s payout ratio is 37.62%.

Match Group announced that its Board of Directors has initiated a stock 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 reacquire up to 19% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Match Group Profile

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.