Los Angeles Capital Management LLC Cuts Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Los Angeles Capital Management LLC lessened its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,567 shares of the technology company’s stock after selling 9,166 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Match Group were worth $1,981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning lifted its holdings in shares of Match Group by 35.1% during the 3rd quarter. Creative Planning now owns 17,149 shares of the technology company’s stock valued at $649,000 after purchasing an additional 4,460 shares during the last quarter. Private Advisor Group LLC raised its stake in Match Group by 3.0% in the third quarter. Private Advisor Group LLC now owns 35,099 shares of the technology company’s stock valued at $1,328,000 after buying an additional 1,006 shares during the last quarter. International Assets Investment Management LLC raised its stake in Match Group by 3,684.0% in the third quarter. International Assets Investment Management LLC now owns 76,323 shares of the technology company’s stock valued at $2,888,000 after buying an additional 74,306 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Match Group by 88.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,058 shares of the technology company’s stock valued at $910,000 after acquiring an additional 11,262 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Match Group by 79.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 156,451 shares of the technology company’s stock valued at $5,793,000 after purchasing an additional 69,270 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 0.5 %

Shares of MTCH opened at $31.71 on Friday. The firm has a market cap of $7.96 billion, a P/E ratio of 15.70, a PEG ratio of 0.82 and a beta of 1.45. The stock’s 50 day moving average is $33.37 and its two-hundred day moving average is $34.52. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 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%. Equities research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.40%. The ex-dividend date is Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

Match Group declared that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. BTIG Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. 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. 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 research report on Thursday, December 12th. HSBC cut Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, New Street Research lowered Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.68.

About Match Group

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.