Patton Albertson Miller Group LLC Decreases Position in Match Group, Inc. (NASDAQ:MTCH)

Patton Albertson Miller Group LLC reduced its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 18.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 139,254 shares of the technology company’s stock after selling 32,331 shares during the period. Patton Albertson Miller Group LLC’s holdings in Match Group were worth $4,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTCH. Venturi Wealth Management LLC grew its position in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after acquiring an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Match Group in the third quarter valued at $31,000. Quarry LP grew its holdings in Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after purchasing an additional 461 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in Match Group during the 3rd quarter worth $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position 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 during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was 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 of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.77% of the company’s stock.

Match Group Stock Up 2.4 %

MTCH stock opened at $34.06 on Friday. The company has a 50-day simple moving average of $32.35 and a 200 day simple moving average of $34.53. The company has a market capitalization of $8.55 billion, a P/E ratio of 15.21, a PEG ratio of 1.00 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 $39.91.

Match Group announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Monday, January 6th. Match Group’s dividend payout ratio is currently 33.93%.

Wall Street Analyst Weigh In

MTCH has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down previously from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Morgan Stanley upped their price objective on Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Match Group has an average rating of “Moderate Buy” and a consensus target price of $37.72.

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.