Nomura Asset Management Co. Ltd. Purchases 478 Shares of Match Group, Inc. (NASDAQ:MTCH)

Nomura Asset Management Co. Ltd. grew its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,762 shares of the technology company’s stock after purchasing an additional 478 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Match Group were worth $2,445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Metis Global Partners LLC lifted its position in Match Group by 3.0% in the 4th quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock worth $358,000 after buying an additional 318 shares during the last quarter. Cornerstone Investment Partners LLC lifted its holdings in shares of Match Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock worth $520,000 after acquiring an additional 349 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after purchasing an additional 378 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Match Group by 10.1% during the 4th quarter. TD Private Client Wealth LLC now owns 7,172 shares of the technology company’s stock valued at $235,000 after purchasing an additional 657 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its holdings in shares of Match Group by 12.8% during the 4th quarter. Prestige Wealth Management Group LLC now owns 5,785 shares of the technology company’s stock valued at $189,000 after purchasing an additional 657 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MTCH. JPMorgan Chase & Co. restated a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. Wells Fargo & Company decreased their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th. Finally, 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. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.68.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $31.47 on Thursday. 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 $32.78 and a 200 day moving average of $33.70. The stock has a market cap of $7.88 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49.

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

Match Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are 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 2.41%. Match Group’s dividend payout ratio is currently 37.62%.

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.