Schroder Investment Management Group Sells 62,378 Shares of Match Group, Inc. (NASDAQ:MTCH)

Schroder Investment Management Group lessened its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,337,993 shares of the technology company’s stock after selling 62,378 shares during the period. Schroder Investment Management Group owned about 0.93% of Match Group worth $76,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of Match Group during the third quarter worth about $31,000. Northwest & Ethical Investments L.P. bought a new position in shares of Match Group during the 3rd quarter worth approximately $57,000. Assetmark Inc. raised its holdings in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Match Group by 420.3% in the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,652 shares in the last quarter. Finally, Quarry LP boosted its holdings in Match Group by 126.3% during the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after purchasing an additional 1,651 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction 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 completion of the transaction, the president now directly owns 1,690 shares of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Match Group Price Performance

MTCH stock opened at $31.20 on Tuesday. The business’s fifty day moving average price is $32.82 and its two-hundred day moving average price is $33.74. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Research analysts expect that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.44%. Match Group’s payout ratio is 37.62%.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Bank of America upped their target price on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley raised their price target on Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.