NEOS Investment Management LLC Purchases 3,732 Shares of Match Group, Inc. (NASDAQ:MTCH)

NEOS Investment Management LLC raised its position in Match Group, Inc. (NASDAQ:MTCH) by 31.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,743 shares of the technology company’s stock after buying an additional 3,732 shares during the quarter. NEOS Investment Management LLC’s holdings in Match Group were worth $515,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd increased its position in Match Group by 27.4% during the fourth quarter. UniSuper Management Pty Ltd now owns 57,216 shares of the technology company’s stock worth $1,872,000 after acquiring an additional 12,304 shares during the period. Elo Mutual Pension Insurance Co grew its position in shares of Match Group by 31.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 29,485 shares of the technology company’s stock worth $964,000 after purchasing an additional 7,067 shares in the last quarter. Korea Investment CORP increased its holdings in shares of Match Group by 37.1% during the fourth quarter. Korea Investment CORP now owns 376,965 shares of the technology company’s stock worth $12,331,000 after purchasing an additional 102,000 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Match Group by 14.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 577,211 shares of the technology company’s stock valued at $18,881,000 after buying an additional 74,132 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of Match Group by 12.8% in the fourth quarter. Prestige Wealth Management Group LLC now owns 5,785 shares of the technology company’s stock valued at $189,000 after buying an additional 657 shares during the period. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Down 3.8 %

Shares of Match Group stock opened at $30.63 on Monday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The company’s fifty day moving average is $32.86 and its 200 day moving average is $33.77.

Match Group (NASDAQ:MTCH) last released 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 net margin of 15.84% and a negative return on equity of 574.22%. As a group, equities analysts anticipate 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 share buyback program on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is presently 37.62%.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

MTCH has been the topic of a number of recent research reports. HSBC lowered Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Evercore ISI lowered shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price on the stock. in a report on Thursday, February 6th. Morgan Stanley upped their price target on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Bank of America boosted their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their target price on Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Match Group presently has an average rating of “Hold” and an average price target of $37.68.

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.