Captrust Financial Advisors Decreases Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Captrust Financial Advisors lowered its position in Match Group, Inc. (NASDAQ:MTCH) by 30.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,676 shares of the technology company’s stock after selling 3,413 shares during the period. Captrust Financial Advisors’ holdings in Match Group were worth $290,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its holdings in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares during the last quarter. Quarry LP boosted its position in shares of Match Group by 54.5% in the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after purchasing an additional 461 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new position in Match Group during the 3rd quarter worth $57,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after buying an additional 1,500 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Match Group in the second quarter valued at about $61,000. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling 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 stock was 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 in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MTCH shares. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. UBS Group decreased their price target on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Match Group in a report on Thursday. KeyCorp reduced their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Evercore ISI dropped their price target on Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Match Group presently has an average rating of “Moderate Buy” and an average target price of $39.06.

Match Group Stock Performance

Shares of Match Group stock opened at $31.45 on Friday. The firm has a 50-day simple moving average of $34.35 and a two-hundred day simple moving average of $34.16. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The company has a market cap of $7.90 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47.

Match Group declared that its board has initiated a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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 given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.42%.

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.