Korea Investment CORP Acquires 102,000 Shares of Match Group, Inc. (NASDAQ:MTCH)

Korea Investment CORP raised its holdings in Match Group, Inc. (NASDAQ:MTCH) by 37.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 376,965 shares of the technology company’s stock after buying an additional 102,000 shares during the quarter. Korea Investment CORP’s holdings in Match Group were worth $12,331,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

MTCH has been the subject of several recent research reports. Evercore ISI downgraded Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective for the company. in a report on Thursday, February 6th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Morgan Stanley upped their target price on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.68.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.77% of the company’s stock.

Match Group Stock Down 3.8 %

Match Group stock opened at $30.63 on Monday. The firm has a 50 day moving average price of $32.86 and a 200-day moving average price of $33.77. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The company has a market capitalization of $7.67 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.82 and a beta of 1.45.

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

Match Group Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Match Group announced that its board has initiated a stock 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.