Tidal Investments LLC Sells 10,921 Shares of Match Group, Inc. (NASDAQ:MTCH)

Tidal Investments LLC decreased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 31.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,917 shares of the technology company’s stock after selling 10,921 shares during the period. Tidal Investments LLC’s holdings in Match Group were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Starboard Value LP acquired a new position in Match Group during the third quarter worth about $361,605,000. Pacer Advisors Inc. boosted its stake in shares of Match Group by 88.5% during the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after purchasing an additional 2,940,667 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Match Group during the second quarter worth about $49,053,000. Dimensional Fund Advisors LP grew its holdings in Match Group by 75.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after acquiring an additional 977,090 shares during the last quarter. Finally, Minneapolis Portfolio Management Group LLC acquired a new stake in Match Group in the third quarter valued at $20,097,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated 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 sale, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.

Match Group Stock Up 6.7 %

Shares of Match Group stock opened at $33.76 on Friday. The company has a market cap of $8.48 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $42.42. The business has a 50 day moving average price of $33.83 and a 200-day moving average price of $34.19.

Match Group declared that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America raised their price objective on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Stifel Nicolaus dropped their price target on shares of Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. UBS Group reduced their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Evercore ISI lowered their target price on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. Finally, Barclays cut 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. Thirteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.68.

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.