Patton Albertson Miller Group LLC Cuts Holdings in Match Group, Inc. (NASDAQ:MTCH)

Patton Albertson Miller Group LLC cut its holdings in Match Group, Inc. (NASDAQ:MTCH) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,254 shares of the technology company’s stock after selling 32,331 shares during the quarter. Patton Albertson Miller Group LLC owned 0.06% of Match Group worth $4,555,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Venturi Wealth Management LLC boosted its position in shares of Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter worth about $31,000. Quarry LP increased its holdings in Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after buying an additional 461 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group during the 3rd quarter valued at approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,500 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Match Group Stock Up 2.4 %

MTCH stock opened at $34.06 on Friday. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.00 and a beta of 1.45. The business has a fifty day simple moving average of $32.35 and a 200-day simple moving average of $34.53. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $39.91.

Match Group announced that its board has initiated a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were issued a $0.19 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.23%. Match Group’s dividend payout ratio (DPR) is 33.93%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI dropped their price objective on Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. Bank of America lifted their price target on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Truist Financial lowered their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target 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, UBS Group dropped their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.72.

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.