Match Group, Inc. (NASDAQ:MTCH) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 420,779 shares of the technology company’s stock after selling 31,475 shares during the period. California Public Employees Retirement System owned about 0.17% of Match Group worth $13,764,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. State Street Corp grew its stake 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 worth $668,732,000 after purchasing an additional 391,977 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Match Group by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after acquiring an additional 939,078 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Match Group by 110.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock valued at $183,968,000 after acquiring an additional 2,952,470 shares during the last quarter. Norges Bank acquired a new stake in shares of Match Group during the 4th quarter worth about $112,176,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 worth $87,267,000 after purchasing an additional 69,947 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Down 4.8 %

Shares of MTCH opened at $28.74 on Friday. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The company has a 50-day simple moving average of $32.61 and a 200-day simple moving average of $33.61. The company has a market capitalization of $7.20 billion, a PE ratio of 14.23, a P/E/G ratio of 0.82 and a beta of 1.49.

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

Match Group announced that its board has approved a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are 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 dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.64%. Match Group’s payout ratio is 37.62%.

Insider Buying and Selling at Match Group

In related news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on MTCH shares. BTIG Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Truist Financial dropped their target price on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Evercore ISI downgraded shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective for the company. in a research note on Thursday, February 6th. Finally, Morgan Stanley lifted their target price on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Match Group presently 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.