Frontier Capital Management Co. LLC Decreases Stake in Match Group, Inc. (NASDAQ:MTCH)

Frontier Capital Management Co. LLC trimmed its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 75.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 298,825 shares of the technology company’s stock after selling 916,738 shares during the period. Frontier Capital Management Co. LLC owned about 0.12% of Match Group worth $9,775,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MTCH. Nisa Investment Advisors LLC raised its holdings in shares of Match Group by 94.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock valued at $1,947,000 after purchasing an additional 28,884 shares in the last quarter. Pacer Advisors Inc. raised its stake in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after buying an additional 939,078 shares in the last quarter. Penn Davis Mcfarland Inc. lifted its holdings in Match Group by 1.8% during the 4th quarter. Penn Davis Mcfarland Inc. now owns 478,913 shares of the technology company’s stock worth $15,665,000 after buying an additional 8,414 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Match Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after acquiring an additional 69,947 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in shares of Match Group in the 4th quarter valued at about $250,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on 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 sale, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MTCH shares. Barclays decreased their target price on Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley dropped their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective on the stock. in a report on Thursday, February 6th. Finally, HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.06.

Match Group Stock Performance

MTCH opened at $27.18 on Friday. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a one year low of $26.39 and a one year high of $38.84. The business’s fifty day moving average is $30.05 and its two-hundred day moving average is $32.12.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS 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%. On average, analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.80%. Match Group’s dividend payout ratio is currently 37.62%.

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.