Skandinaviska Enskilda Banken AB publ Buys 28,944 Shares of Match Group, Inc. (NASDAQ:MTCH)

Skandinaviska Enskilda Banken AB publ lifted its stake in Match Group, Inc. (NASDAQ:MTCH) by 35.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,271 shares of the technology company’s stock after acquiring an additional 28,944 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Match Group were worth $3,616,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MTCH. Metis Global Partners LLC grew its holdings 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 valued at $358,000 after buying an additional 318 shares during the last quarter. Cornerstone Investment Partners LLC grew its holdings in Match Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock valued at $520,000 after buying an additional 349 shares during the last quarter. Assetmark Inc. grew its holdings in 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 buying an additional 378 shares during the last quarter. Empirical Finance LLC grew its holdings in Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after buying an additional 384 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Match Group by 617.3% in the 3rd 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 during the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MTCH. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 target price (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Wells Fargo & Company decreased their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.68.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.77% of the company’s stock.

Match Group Stock Performance

Shares of MTCH opened at $30.94 on Monday. The stock has a fifty day moving average price of $33.02 and a two-hundred day moving average price of $34.13. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data 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%. As a group, research analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

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 given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.46%. Match Group’s payout ratio is 37.62%.

Match Group announced that its board has authorized a share repurchase program 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 stock through open market purchases. Stock buyback programs are typically an indication 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.