Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,752 Shares of Match Group, Inc. (NASDAQ:MTCH)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Match Group, Inc. (NASDAQ:MTCH) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,389 shares of the technology company’s stock after selling 2,752 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Match Group were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Match Group Price Performance

Shares of NASDAQ MTCH opened at $31.27 on Wednesday. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The firm has a 50-day moving average of $32.92 and a 200 day moving average of $33.86. The stock has a market cap of $7.83 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

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 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 earnings per share for the current fiscal year.

Match Group declared that its board has initiated 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 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 stock is undervalued.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be paid 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 2.43%. Match Group’s dividend payout ratio is currently 37.62%.

Insider Activity

In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MTCH shares. Truist Financial dropped their target price on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. UBS Group cut their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. HSBC lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Bank of America upped their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Sixteen investment 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 stock presently has a consensus rating of “Hold” and an average price target 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.