Bleakley Financial Group LLC Has $293,000 Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Bleakley Financial Group LLC reduced its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,966 shares of the technology company’s stock after selling 383 shares during the quarter. Bleakley Financial Group LLC’s holdings in Match Group were worth $293,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Match Group by 2.3% in the third quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after purchasing an additional 391,977 shares during the last quarter. Starboard Value LP purchased a new stake in shares of Match Group in the third quarter worth approximately $361,605,000. Pacer Advisors Inc. raised its stake in shares of Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares during the last quarter. FMR LLC raised its stake 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 worth $209,668,000 after purchasing an additional 524,144 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Match Group by 56.8% in the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company’s stock worth $78,733,000 after purchasing an additional 866,026 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Price Performance

Match Group stock opened at $33.93 on Wednesday. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The business has a fifty day moving average price of $33.02 and a 200-day moving average price of $34.67. The firm has a market capitalization of $8.52 billion, a P/E ratio of 16.80, a PEG ratio of 1.14 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 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Sell-side analysts expect that Match Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Match Group announced that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to buy 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.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s payout ratio is currently 37.62%.

Insider Transactions at Match Group

In related 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 sale, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BTIG Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Barclays lowered their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley increased their price target on Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Finally, Bank of America increased their price target on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group has a consensus rating of “Hold” and an average target price 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.