Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lowered its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 17.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,980 shares of the technology company’s stock after selling 4,291 shares during the period. Orion Portfolio Solutions LLC’s holdings in Match Group were worth $756,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Starboard Value LP purchased a new stake in Match Group during the 3rd quarter worth about $361,605,000. Pacer Advisors Inc. lifted its stake in Match Group by 88.5% during the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after purchasing an additional 2,940,667 shares during the last quarter. Marshall Wace LLP acquired a new position in Match Group in the second quarter valued at approximately $49,053,000. Dimensional Fund Advisors LP increased its stake in Match Group by 75.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after purchasing an additional 977,090 shares during the last quarter. Finally, Minneapolis Portfolio Management Group LLC acquired a new stake in Match Group during the third quarter worth approximately $20,097,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 2.9 %

NASDAQ MTCH opened at $32.36 on Tuesday. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $42.42. The firm has a 50-day moving average price of $34.24 and a 200 day moving average price of $34.21. The stock has a market capitalization of $8.13 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.18 and a beta of 1.47.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.35%. Match Group’s dividend payout ratio is currently 33.93%.

Match Group declared that its board has authorized a share buyback 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 purchase up to 19% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MTCH shares. Evercore ISI lowered their target price on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. Stifel Nicolaus dropped their price objective on Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Susquehanna reduced their target price on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Finally, Morgan Stanley dropped their price target on Match Group from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.06.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction on Friday, November 22nd. The stock was 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 in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.77% of the company’s stock.

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.