Retirement Systems of Alabama Raises Stake in Match Group, Inc. (NASDAQ:MTCH)

Retirement Systems of Alabama raised its position in Match Group, Inc. (NASDAQ:MTCH) by 16.9% in the 4th quarter, Holdings Channel reports. The fund owned 1,939,394 shares of the technology company’s stock after acquiring an additional 279,676 shares during the period. Retirement Systems of Alabama’s holdings in Match Group were worth $63,438,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in shares of Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter worth approximately $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the third quarter worth approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC acquired a new stake in shares of Match Group in the third quarter worth $87,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction 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 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 SEC, which is available through this hyperlink. Insiders own 0.77% of the company’s stock.

Match Group Trading Up 3.0 %

NASDAQ:MTCH opened at $36.47 on Wednesday. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The company has a 50-day moving average of $32.85 and a 200-day moving average of $34.66. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.10 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 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. On average, research analysts forecast that Match Group, Inc. will post 2.37 earnings per share for the current year.

Match Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, January 6th. Match Group’s dividend payout ratio is 33.93%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MTCH shares. UBS Group decreased their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Loop Capital reduced their price target 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 reduced their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Stifel Nicolaus reduced their price target on shares of Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Fourteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Match Group currently has an average rating of “Moderate Buy” and a consensus price target of $37.72.

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.