Generali Investments CEE investicni spolecnost a.s. Invests $327,000 in Match Group, Inc. (NASDAQ:MTCH)

Generali Investments CEE investicni spolecnost a.s. bought a new position in Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, Holdings Channel.com reports. The firm bought 10,000 shares of the technology company’s stock, valued at approximately $327,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTCH. Venturi Wealth Management LLC boosted its stake 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 worth $27,000 after buying an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Match Group in the 3rd quarter worth approximately $31,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group in the 3rd quarter worth approximately $57,000. Assetmark Inc. boosted its stake in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after buying an additional 378 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after buying an additional 2,652 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Match Group in a research note on Thursday, December 12th. Barclays dropped their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $33.00 price objective (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Finally, Bank of America upped their price objective on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.68.

Match Group Stock Performance

Match Group stock opened at $32.62 on Monday. The stock has a market cap of $8.17 billion, a P/E ratio of 16.15, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The firm’s fifty day moving average price is $33.18 and its 200-day moving average price is $34.34.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results 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 negative return on equity of 574.22% and a net margin of 15.84%. Sell-side analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.33%. Match Group’s payout ratio is currently 37.62%.

Match Group declared that its board has approved a share 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 reacquire up to 19% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of the stock in a transaction 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 transaction, the president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

Match Group Company 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.