Match Group, Inc. (NASDAQ:MTCH) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB raised its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 56.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,390,194 shares of the technology company’s stock after acquiring an additional 866,026 shares during the period. Nordea Investment Management AB’s holdings in Match Group were worth $78,733,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Commonwealth Equity Services LLC lifted its position in Match Group by 11.7% during the second quarter. Commonwealth Equity Services LLC now owns 9,993 shares of the technology company’s stock valued at $304,000 after purchasing an additional 1,046 shares during the period. National Bank of Canada FI lifted its holdings in shares of Match Group by 19.5% in the 2nd quarter. National Bank of Canada FI now owns 71,993 shares of the technology company’s stock valued at $2,112,000 after buying an additional 11,760 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Match Group by 4,398.5% in the second quarter. Acadian Asset Management LLC now owns 69,322 shares of the technology company’s stock worth $2,102,000 after buying an additional 67,781 shares during the last quarter. Andra AP fonden grew its holdings in Match Group by 194.2% during the second quarter. Andra AP fonden now owns 685,772 shares of the technology company’s stock worth $20,834,000 after acquiring an additional 452,700 shares during the period. Finally, Bronte Capital Management Pty Ltd. raised its position in Match Group by 50.5% during the second quarter. Bronte Capital Management Pty Ltd. now owns 1,130,236 shares of the technology company’s stock valued at $34,337,000 after acquiring an additional 379,031 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Performance

Shares of Match Group stock opened at $32.40 on Wednesday. The business’s 50 day moving average price is $32.68 and its 200 day moving average price is $34.37. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.18 and a beta of 1.45. Match Group, Inc. has a one year low of $27.66 and a one year high of $42.42.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be given a dividend of $0.19 per share. 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 payout ratio is 33.93%.

Match Group declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

MTCH has been the topic of several recent research reports. UBS Group lowered their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. Loop Capital decreased their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company dropped their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Thirteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.68.

Insider Activity at Match Group

In other 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 value of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by 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.