EULAV Asset Management Sells 90,007 Shares of Match Group, Inc. (NASDAQ:MTCH)

EULAV Asset Management decreased its position in Match Group, Inc. (NASDAQ:MTCH) by 21.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 325,129 shares of the technology company’s stock after selling 90,007 shares during the period. EULAV Asset Management owned 0.13% of Match Group worth $10,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Starboard Value LP purchased a new stake in shares of Match Group in the 3rd quarter worth $361,605,000. Versor Investments LP lifted its stake in Match Group by 301.7% in the third quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock worth $1,824,000 after acquiring an additional 36,200 shares during the period. Paloma Partners Management Co lifted its stake in Match Group by 510.3% in the third quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock worth $2,463,000 after acquiring an additional 54,422 shares during the period. Aviance Capital Partners LLC bought a new position in Match Group during the 3rd quarter worth about $2,170,000. Finally, Mawer Investment Management Ltd. increased its position in Match Group by 71.4% during the 3rd quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock valued at $24,344,000 after purchasing an additional 267,890 shares during the period. Institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. New Street Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Monday, December 16th. HSBC cut Match Group from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays decreased their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, UBS Group reduced their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Fifteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Stock Down 2.3 %

Shares of NASDAQ MTCH opened at $33.80 on Friday. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84. The firm has a market cap of $8.49 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.14 and a beta of 1.45. The business’s 50 day moving average price is $32.99 and its 200 day moving average price is $34.66.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. As a group, research analysts expect that Match Group, Inc. will post 2.49 earnings per share for the current year.

Match Group announced that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.25%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.77% of the company’s stock.

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.