Proficio Capital Partners LLC Makes New Investment in Match Group, Inc. (NASDAQ:MTCH)

Proficio Capital Partners LLC acquired a new position in shares of Match Group, Inc. (NASDAQ:MTCH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,523 shares of the technology company’s stock, valued at approximately $704,000.

A number of other hedge funds have also recently bought and sold shares of MTCH. Itau Unibanco Holding S.A. purchased a new position in Match Group during the 3rd quarter worth $31,000. Northwest & Ethical Investments L.P. purchased a new position in Match Group during the 3rd quarter worth $57,000. Assetmark Inc. boosted its holdings in Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after acquiring an additional 378 shares during the last quarter. Principal Securities Inc. boosted its holdings in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after acquiring an additional 2,652 shares during the last quarter. Finally, Quarry LP boosted its holdings in Match Group by 126.3% during the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after acquiring an additional 1,651 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Match Group Stock Down 2.3 %

MTCH stock opened at $30.49 on Friday. The firm has a market capitalization of $7.64 billion, a PE ratio of 15.09, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The stock has a 50-day simple moving average of $32.92 and a two-hundred day simple moving average of $33.94.

Match Group (NASDAQ:MTCH) last posted its earnings results 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 anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

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

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s payout ratio is presently 37.62%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 target price (down from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. 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 research note on Thursday, December 12th. BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley lifted their target price on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.68.

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.