Allspring Global Investments Holdings LLC Grows Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Allspring Global Investments Holdings LLC grew its holdings in Match Group, Inc. (NASDAQ:MTCH) by 60.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,836 shares of the technology company’s stock after acquiring an additional 7,451 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Match Group were worth $647,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Empirical Finance LLC boosted its holdings in shares of 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 acquiring an additional 384 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Match Group by 1.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 455 shares during the period. Venturi Wealth Management LLC lifted 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 purchasing an additional 605 shares during the period. River Global Investors LLP lifted its stake in shares of Match Group by 0.9% in the 3rd quarter. River Global Investors LLP now owns 82,382 shares of the technology company’s stock valued at $3,119,000 after purchasing an additional 732 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of Match Group by 17.2% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 5,128 shares of the technology company’s stock valued at $194,000 after purchasing an additional 753 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Morgan Stanley boosted their target price on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Barclays decreased their target price on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $33.00 target price (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Finally, StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Sixteen investment 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, the stock presently has an average rating of “Hold” and a consensus price target of $37.68.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $32.85 on Tuesday. The stock’s 50-day moving average is $33.36 and its two-hundred day moving average is $34.58. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

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 negative return on equity of 574.22% and a net margin of 15.84%. Equities research analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business 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. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.31%. Match Group’s dividend payout ratio (DPR) is 37.62%.

Match Group announced that its Board of Directors has authorized a stock buyback program 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 programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.