Match Group, Inc. (NASDAQ:MTCH) Shares Acquired by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC increased its stake in Match Group, Inc. (NASDAQ:MTCH) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,889 shares of the technology company’s stock after buying an additional 349 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Match Group were worth $520,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC grew its stake in shares of 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 buying an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group in the third quarter valued at about $31,000. Northwest & Ethical Investments L.P. acquired a new stake in Match Group during the 3rd quarter valued at approximately $57,000. Solstein Capital LLC acquired a new stake in Match Group during the 3rd quarter valued at approximately $87,000. Finally, Principal Securities Inc. grew its stake in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,652 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analysts Set New Price Targets

MTCH has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Evercore ISI lowered 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. Susquehanna lowered their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 target price (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Finally, New Street Research downgraded 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $37.68.

Match Group Stock Performance

Shares of MTCH stock opened at $30.19 on Tuesday. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The stock has a market cap of $7.58 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The business’s fifty day moving average is $33.32 and its 200-day moving average is $34.48.

Match Group (NASDAQ:MTCH) last issued its quarterly 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%. Equities research analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

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

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.