Tidal Investments LLC Sells 10,921 Shares of Match Group, Inc. (NASDAQ:MTCH)

Tidal Investments LLC lowered its holdings in Match Group, Inc. (NASDAQ:MTCH) by 31.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,917 shares of the technology company’s stock after selling 10,921 shares during the quarter. Tidal Investments LLC’s holdings in Match Group were worth $905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. State Street Corp raised its holdings in Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after acquiring an additional 391,977 shares during the period. Starboard Value LP purchased a new position in shares of Match Group in the third quarter valued at $361,605,000. Pacer Advisors Inc. raised its stake in shares of Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after purchasing an additional 2,940,667 shares during the period. FMR LLC lifted its holdings in Match Group by 10.4% during the 3rd 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Match Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock worth $77,342,000 after purchasing an additional 12,379 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Performance

Shares of MTCH opened at $33.76 on Friday. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The firm has a 50 day moving average price of $33.83 and a 200-day moving average price of $34.19. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.18 and a beta of 1.47.

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 is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.25%. Match Group’s payout ratio is 33.93%.

Match Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits 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 management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a research report on Tuesday. Barclays decreased their target price on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Piper Sandler reissued an “overweight” rating and issued a $40.00 price target on shares of Match Group in a report on Thursday, December 12th. Truist Financial lowered their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, Morgan Stanley reduced their target price on Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Thirteen 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.68.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares in the company, 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 through this link. 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.