Minneapolis Portfolio Management Group LLC Reduces Position in Match Group, Inc. (NASDAQ:MTCH)

Minneapolis Portfolio Management Group LLC lessened its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 520,565 shares of the technology company’s stock after selling 10,545 shares during the quarter. Match Group makes up approximately 2.2% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 25th biggest position. Minneapolis Portfolio Management Group LLC owned 0.21% of Match Group worth $17,028,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MTCH. State Street Corp raised its holdings in shares of Match Group by 2.3% during the third 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 in the last quarter. Starboard Value LP bought a new position in shares of Match Group during the third quarter valued at approximately $361,605,000. Pacer Advisors Inc. raised its holdings in shares of Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after acquiring an additional 939,078 shares in the last quarter. FMR LLC raised its holdings in shares of Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after acquiring an additional 524,144 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Match Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock valued at $87,267,000 after acquiring an additional 69,947 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Match Group stock opened at $30.49 on Monday. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The stock has a market capitalization of $7.64 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The business’s fifty day moving average is $32.92 and its 200 day moving average is $33.93.

Match Group (NASDAQ:MTCH) last announced 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%. As a group, sell-side analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group declared that its Board of Directors has initiated a stock repurchase 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 usually a sign that the company’s board 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. Shareholders 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 annualized dividend and a yield of 2.49%. Match Group’s payout ratio is 37.62%.

Insiders Place Their Bets

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group decreased their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Truist Financial decreased their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Stifel Nicolaus decreased their price objective on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Match Group has a consensus rating of “Hold” and an average price target 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.