Jupiter Asset Management Ltd. Makes New $45.77 Million Investment in Match Group, Inc. (NASDAQ:MTCH)

Jupiter Asset Management Ltd. acquired a new position in Match Group, Inc. (NASDAQ:MTCH) in the 4th quarter, Holdings Channel reports. The firm acquired 1,399,193 shares of the technology company’s stock, valued at approximately $45,768,000.

Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Match Group in the 3rd quarter worth about $2,639,000. Venturi Wealth Management LLC grew its position in shares of Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Match Group in the 3rd quarter worth about $747,000. Bronte Capital Management Pty Ltd. grew its position in shares of Match Group by 15.7% in the 3rd quarter. Bronte Capital Management Pty Ltd. now owns 1,307,151 shares of the technology company’s stock worth $49,463,000 after buying an additional 176,915 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Match Group by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 182,535 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,462 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Barclays cut their price objective on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. restated a “neutral” rating and set a $33.00 price objective (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Finally, HSBC lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Match Group currently has a consensus rating of “Hold” and an average price target of $37.68.

Match Group Trading Down 2.1 %

MTCH opened at $31.36 on Wednesday. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.82 and a beta of 1.45. The company’s 50 day moving average is $33.14 and its 200 day moving average is $34.27.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. As a group, analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Match Group announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Match Group

In other 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 transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.77% of the company’s stock.

Match Group Company 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.