Match Group, Inc. (NASDAQ:MTCH) Position Boosted by KBC Group NV

KBC Group NV lifted its stake in Match Group, Inc. (NASDAQ:MTCH) by 3,325.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,122,906 shares of the technology company’s stock after acquiring an additional 1,090,127 shares during the quarter. KBC Group NV’s holdings in Match Group were worth $36,730,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MTCH. Venturi Wealth Management LLC increased its stake in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Match Group during the 3rd quarter valued at $31,000. Quarry LP increased its stake in shares of Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Match Group in the third quarter worth $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,500 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MTCH shares. Morgan Stanley raised their price target on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Piper Sandler reissued an “overweight” rating and issued a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Bank of America raised their price target on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Barclays decreased their price objective on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, UBS Group cut their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Match Group has a consensus rating of “Moderate Buy” and an average target price of $37.72.

Match Group Stock Performance

Shares of MTCH stock opened at $34.99 on Tuesday. The firm has a fifty day moving average of $32.35 and a 200-day moving average of $34.58. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.00 and a beta of 1.45. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $39.91.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, January 6th. Match Group’s dividend payout ratio is 33.93%.

Match Group declared that its board has initiated a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were 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. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.77% of the company’s stock.

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.