MML Investors Services LLC Sells 8,827 Shares of Match Group, Inc. (NASDAQ:MTCH)

MML Investors Services LLC lessened its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 21.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,357 shares of the technology company’s stock after selling 8,827 shares during the period. MML Investors Services LLC’s holdings in Match Group were worth $1,224,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MTCH. Anson Funds Management LP increased its stake in Match Group by 27.2% in the third quarter. Anson Funds Management LP now owns 1,365,680 shares of the technology company’s stock valued at $51,677,000 after purchasing an additional 292,240 shares in the last quarter. XTX Topco Ltd increased its stake in Match Group by 41.6% in the third quarter. XTX Topco Ltd now owns 37,343 shares of the technology company’s stock valued at $1,413,000 after purchasing an additional 10,962 shares in the last quarter. National Bank of Canada FI increased its stake in Match Group by 43.8% in the third quarter. National Bank of Canada FI now owns 103,509 shares of the technology company’s stock valued at $3,917,000 after purchasing an additional 31,516 shares in the last quarter. Wellington Management Group LLP increased its stake in Match Group by 12.1% in the third quarter. Wellington Management Group LLP now owns 8,508 shares of the technology company’s stock valued at $322,000 after purchasing an additional 919 shares in the last quarter. Finally, State Street Corp increased its stake in Match Group by 2.3% in the third quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after purchasing an additional 391,977 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

MTCH has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Evercore ISI decreased their price target on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $33.00 price objective (down from $40.00) on shares of Match Group in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Thirteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.68.

Match Group Trading Down 1.6 %

Match Group stock opened at $31.08 on Thursday. The firm’s 50 day simple moving average is $34.01 and its 200 day simple moving average is $34.19. The firm has a market capitalization of $7.80 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $42.42.

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

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

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.