Wellington Management Group LLP Increases Position in Match Group, Inc. (NASDAQ:MTCH)

Wellington Management Group LLP raised its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,647 shares of the technology company’s stock after purchasing an additional 1,139 shares during the period. Wellington Management Group LLP’s holdings in Match Group were worth $316,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. M&T Bank Corp increased its position in Match Group by 13.2% during the 3rd quarter. M&T Bank Corp now owns 21,551 shares of the technology company’s stock valued at $816,000 after buying an additional 2,507 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Match Group during the third quarter valued at $249,000. Boyar Asset Management Inc. purchased a new position in shares of Match Group in the 3rd quarter worth about $1,376,000. Franklin Resources Inc. boosted its stake in Match Group by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock worth $10,459,000 after purchasing an additional 22,887 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in Match Group by 2,732.1% during the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after purchasing an additional 1,601,115 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on Friday, March 7th. The shares were 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 approximately $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.77% of the stock is currently owned by insiders.

Analyst Ratings Changes

MTCH has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Barclays cut their target price on Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI cut Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research note on Thursday, February 6th. Finally, BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and a consensus price target of $37.63.

Match Group Trading Up 0.6 %

MTCH opened at $28.65 on Tuesday. Match Group, Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The firm’s 50 day simple moving average is $31.48 and its two-hundred day simple moving average is $33.12. The company has a market capitalization of $7.17 billion, a PE ratio of 14.18, a PEG ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates 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 analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. 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 2.65%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

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.