AlphaQuest LLC Sells 8,397 Shares of Match Group, Inc. (NASDAQ:MTCH)

AlphaQuest LLC decreased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 83.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,696 shares of the technology company’s stock after selling 8,397 shares during the quarter. AlphaQuest LLC’s holdings in Match Group were worth $55,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in Match Group during the 3rd quarter worth approximately $31,000. Northwest & Ethical Investments L.P. acquired a new stake in Match Group during the 3rd quarter worth approximately $57,000. Assetmark Inc. raised its holdings in Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after buying an additional 378 shares during the period. Principal Securities Inc. raised its holdings in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after buying an additional 2,652 shares during the period. Finally, Quarry LP raised its holdings in Match Group by 126.3% during the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company’s stock worth $112,000 after buying an additional 1,651 shares during the period. Institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on MTCH shares. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. UBS Group lowered their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a 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 on the stock in a report on Thursday, December 12th. Finally, Loop Capital lowered their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.68.

Insider Activity

In related news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.77% of the stock is currently owned by company insiders.

Match Group Stock Performance

Shares of Match Group stock opened at $31.21 on Friday. The firm has a 50-day moving average of $32.93 and a 200-day moving average of $34.01. The stock has a market cap of $7.82 billion, a PE ratio of 15.45, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84.

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

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.44%. Match Group’s payout ratio is presently 37.62%.

Match Group declared that its board has approved a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are 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.