Maryland State Retirement & Pension System Sells 874 Shares of Match Group, Inc. (NASDAQ:MTCH)

Maryland State Retirement & Pension System lessened its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,226 shares of the technology company’s stock after selling 874 shares during the period. Maryland State Retirement & Pension System’s holdings in Match Group were worth $465,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. State Street Corp raised its holdings in Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after purchasing an additional 391,977 shares during the last quarter. Starboard Value LP bought a new position in Match Group during the third quarter worth $361,605,000. Pacer Advisors Inc. lifted its holdings in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after buying an additional 939,078 shares during the period. FMR LLC boosted its position in Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after acquiring an additional 524,144 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Match Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after acquiring an additional 69,947 shares during the period. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.77% of the company’s stock.

Match Group Price Performance

MTCH opened at $31.27 on Wednesday. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The firm has a market capitalization of $7.83 billion, a P/E ratio of 15.48, a PEG ratio of 0.82 and a beta of 1.45. The company’s 50-day moving average is $32.92 and its 200 day moving average is $33.86.

Match Group (NASDAQ:MTCH) last posted its 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%. On average, equities research analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group announced that its Board of Directors has initiated a stock buyback 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 purchase up to 19% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders 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 yield of 2.43%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Analyst Ratings Changes

MTCH has been the topic of several research analyst reports. Truist Financial cut their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Loop Capital cut their price target on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Finally, Hsbc Global Res cut shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.