Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its position in Match Group, Inc. (NASDAQ:MTCH) by 17.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,477 shares of the technology company’s stock after selling 28,201 shares during the quarter. Prudential Financial Inc. owned 0.05% of Match Group worth $4,478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Match Group in the third quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group in the 3rd quarter valued at $57,000. Assetmark Inc. lifted its holdings in shares of Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after acquiring an additional 378 shares in the last quarter. Principal Securities Inc. boosted its position 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 purchasing an additional 2,652 shares during the period. Finally, Quarry LP increased its holdings in Match Group by 126.3% in the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company’s stock valued at $112,000 after purchasing an additional 1,651 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.77% of the stock is currently owned by corporate insiders.

Match Group Price Performance

Shares of MTCH opened at $31.20 on Tuesday. The firm’s 50 day moving average is $32.82 and its 200-day moving average is $33.74. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84. The stock has a market capitalization of $7.81 billion, a P/E ratio of 15.45, a P/E/G ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) 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%. As a group, equities research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

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

Match Group Dividend Announcement

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

Analyst Upgrades and Downgrades

MTCH has been the subject of several analyst reports. Loop Capital decreased their target price on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research report on Thursday, December 12th. New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Barclays dropped their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $33.00 price objective (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.