Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,752 Shares of Match Group, Inc. (NASDAQ:MTCH)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 4.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 53,389 shares of the technology company’s stock after selling 2,752 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Match Group were worth $1,746,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Starboard Value LP bought a new position in Match Group during the third quarter valued at approximately $361,605,000. Paloma Partners Management Co lifted its holdings in shares of Match Group by 510.3% during the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock valued at $2,463,000 after buying an additional 54,422 shares during the period. Redwood Investment Management LLC bought a new position in shares of Match Group during the 3rd quarter valued at $2,789,000. Nisa Investment Advisors LLC boosted its stake in shares of Match Group by 94.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock worth $1,947,000 after buying an additional 28,884 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after acquiring an additional 939,078 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

MTCH opened at $31.27 on Wednesday. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 0.82 and a beta of 1.45. The company has a fifty day moving average of $32.92 and a 200 day moving average of $33.86. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84.

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 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%. On average, equities research analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.43%. Match Group’s dividend payout ratio (DPR) is 37.62%.

Match Group announced that its board has authorized a share repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Truist Financial lowered 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. Bank of America raised their price objective on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Hsbc Global Res cut shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Match Group presently has an average rating of “Hold” and a consensus target price of $37.68.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now owns 1,690 shares in the company, 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 this hyperlink. Insiders own 0.77% of the company’s stock.

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.