Match Group, Inc. (NASDAQ:MTCH) Position Raised by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 17.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,475,636 shares of the technology company’s stock after purchasing an additional 939,078 shares during the period. Pacer Advisors Inc. owned about 2.58% of Match Group worth $211,818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Venturi Wealth Management LLC raised its stake 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 valued at $27,000 after acquiring an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Match Group in the third quarter worth $31,000. Quarry LP increased its position in Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after purchasing an additional 461 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in Match Group in the third quarter valued at about $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares in the company, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.77% of the company’s stock.

Match Group Stock Performance

Match Group stock opened at $34.06 on Monday. The business’s 50-day simple moving average is $32.35 and its two-hundred day simple moving average is $34.58. The company has a market cap of $8.55 billion, a PE ratio of 15.21, a PEG ratio of 1.00 and a beta of 1.45. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $39.91.

Match Group announced that its board has approved a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were issued a $0.19 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.23%. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent research reports. UBS Group lowered their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company lowered 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. Susquehanna dropped their target price on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. Barclays dropped their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Match Group currently has an average rating of “Moderate Buy” and a consensus target price of $37.72.

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.