Match Group, Inc. (NASDAQ:MTCH) Shares Bought by Penn Davis Mcfarland Inc.

Penn Davis Mcfarland Inc. raised its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 478,913 shares of the technology company’s stock after buying an additional 8,414 shares during the period. Match Group accounts for 1.7% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 21st biggest position. Penn Davis Mcfarland Inc.’s holdings in Match Group were worth $15,665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Integrated Investment Consultants LLC purchased a new position in shares of Match Group in the 4th quarter valued at approximately $359,000. Merit Financial Group LLC purchased a new stake in shares of Match Group during the fourth quarter valued at $227,000. Empirical Asset Management LLC acquired a new position in shares of Match Group in the 4th quarter valued at $240,000. Palliser Capital UK Ltd increased its position in shares of Match Group by 76.9% in the 4th quarter. Palliser Capital UK Ltd now owns 233,594 shares of the technology company’s stock valued at $7,641,000 after acquiring an additional 101,563 shares during the period. Finally, Czech National Bank lifted its position in Match Group by 3.6% during the 4th quarter. Czech National Bank now owns 54,442 shares of the technology company’s stock worth $1,781,000 after acquiring an additional 1,907 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 0.1 %

Shares of MTCH opened at $32.74 on Monday. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $39.91. The stock has a market cap of $8.22 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. The firm’s fifty day moving average is $32.15 and its two-hundred day moving average is $34.44.

Match Group declared that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.32%. Match Group’s dividend payout ratio is presently 33.93%.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MTCH. KeyCorp reduced their price objective on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. BTIG Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Wells Fargo & Company cut their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Truist Financial decreased their target price on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group cut their price target on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently 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.