Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,508 shares of the technology company’s stock after purchasing an additional 919 shares during the quarter. Wellington Management Group LLP’s holdings in Match Group were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in 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 acquiring an additional 391,977 shares in the last quarter. Starboard Value LP acquired a new stake in shares of Match Group during the third quarter worth about $361,605,000. Pacer Advisors Inc. lifted its holdings in shares of Match Group by 88.5% in the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after purchasing an additional 2,940,667 shares during the last quarter. FMR LLC boosted its holdings in shares of Match Group by 10.4% in the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after acquiring an additional 524,144 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Match Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock worth $77,342,000 after purchasing an additional 12,379 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 6.7 %

MTCH stock opened at $33.76 on Friday. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $42.42. The stock’s fifty day simple moving average is $33.83 and its 200-day simple moving average is $34.19.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, January 6th. Match Group’s payout ratio is 33.93%.

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

Analyst Upgrades and Downgrades

Several analysts have commented on MTCH shares. UBS Group reduced their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Stifel Nicolaus cut their price objective on shares of Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Match Group in a report on Monday, December 9th. Piper Sandler restated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research report on Thursday, December 12th. Finally, StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Thirteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.68.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.77% of the stock is owned by company insiders.

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.