Assetmark Inc. Has $99,000 Holdings in Match Group, Inc. (NASDAQ:MTCH)

Assetmark Inc. raised its holdings in Match Group, Inc. (NASDAQ:MTCH) by 14.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,035 shares of the technology company’s stock after acquiring an additional 378 shares during the quarter. Assetmark Inc.’s holdings in Match Group were worth $99,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Starboard Value LP acquired a new position in shares of Match Group during the third quarter worth approximately $361,605,000. Retirement Systems of Alabama raised its position in shares of Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after purchasing an additional 1,601,115 shares during the period. KBC Group NV grew its holdings in Match Group by 3,325.7% during the fourth quarter. KBC Group NV now owns 1,122,906 shares of the technology company’s stock worth $36,730,000 after buying an additional 1,090,127 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after buying an additional 939,078 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Match Group by 56.8% during the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company’s stock worth $78,733,000 after buying an additional 866,026 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTCH. Stifel Nicolaus decreased their price target on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Evercore ISI downgraded Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective for the company. in a research note on Thursday, February 6th. New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. 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. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.68.

Match Group Price Performance

MTCH opened at $30.94 on Friday. The stock’s 50 day simple moving average is $33.02 and its 200 day simple moving average is $34.17. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 0.82 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 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%. As a group, sell-side analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.46%. Match Group’s dividend payout ratio is currently 37.62%.

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

Insider Transactions at Match Group

In other news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.