AlphaQuest LLC Sells 8,397 Shares of Match Group, Inc. (NASDAQ:MTCH)

AlphaQuest LLC trimmed its holdings in Match Group, Inc. (NASDAQ:MTCH) by 83.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,696 shares of the technology company’s stock after selling 8,397 shares during the period. AlphaQuest LLC’s holdings in Match Group were worth $55,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after buying an additional 391,977 shares during the period. Starboard Value LP bought a new stake in shares of Match Group during the 3rd quarter worth $361,605,000. Pacer Advisors Inc. boosted its holdings in shares of Match Group by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after buying an additional 939,078 shares during the period. FMR LLC boosted its holdings in shares of Match Group by 10.4% during the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after buying an additional 524,144 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Match Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after buying an additional 69,947 shares during the period. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Match Group Stock Down 0.7 %

Shares of Match Group stock opened at $31.21 on Friday. The stock has a market capitalization of $7.82 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The company has a 50-day simple moving average of $32.93 and a 200 day simple moving average of $34.01. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. On average, equities analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is currently 37.62%.

Analysts Set New Price Targets

Several research firms recently issued reports on MTCH. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 price objective (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Loop Capital decreased their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, December 12th. New Street Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Finally, Barclays reduced their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.68.

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.