Rhumbline Advisers Cuts Holdings in Match Group, Inc. (NASDAQ:MTCH)

Rhumbline Advisers trimmed its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 462,166 shares of the technology company’s stock after selling 11,309 shares during the quarter. Rhumbline Advisers’ holdings in Match Group were worth $15,117,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MTCH. Venturi Wealth Management LLC boosted its stake in Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Match Group during the 3rd quarter valued at $31,000. Northwest & Ethical Investments L.P. purchased a new stake in Match Group during the 3rd quarter valued at $57,000. Solstein Capital LLC purchased a new stake in Match Group during the 3rd quarter valued at $87,000. Finally, Blue Trust Inc. boosted its stake in Match Group by 1,003.4% during the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the technology company’s stock valued at $98,000 after purchasing an additional 2,348 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Down 3.2 %

NASDAQ:MTCH opened at $32.77 on Friday. The business’s 50-day simple moving average is $33.35 and its two-hundred day simple moving average is $34.60. The stock has a market cap of $8.23 billion, a PE ratio of 16.22, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCH) last issued its 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 negative return on equity of 574.22% and a net margin of 15.84%. Sell-side analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Match Group Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.32%. Match Group’s dividend payout ratio (DPR) is 37.62%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Hsbc Global Res downgraded Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Bank of America raised their price target on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley raised their price target on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.