63,280 Shares in Match Group, Inc. (NASDAQ:MTCH) Acquired by Legato Capital Management LLC

Legato Capital Management LLC acquired a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) in the 4th quarter, HoldingsChannel reports. The firm acquired 63,280 shares of the technology company’s stock, valued at approximately $2,070,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC increased 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 last quarter. Itau Unibanco Holding S.A. bought a new position in Match Group in the third quarter valued at about $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the third quarter worth about $57,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Match Group by 433.5% during the third 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. Finally, Solstein Capital LLC acquired a new stake in shares of Match Group in the 3rd quarter valued at approximately $87,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Trading Up 0.9 %

Shares of Match Group stock opened at $33.93 on Wednesday. The business has a 50-day moving average price of $33.02 and a two-hundred day moving average price of $34.67. 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 $8.52 billion, a P/E ratio of 16.80, a PEG ratio of 1.14 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last released its earnings results 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%. Equities research analysts forecast that Match Group, Inc. will post 2.49 EPS for the current fiscal year.

Match Group announced that its board has approved a stock buyback plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to buy up to 19% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.24%. Match Group’s dividend payout ratio is currently 37.62%.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was 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 directly owns 12,398 shares of the company’s stock, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. KeyCorp lowered their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Morgan Stanley raised their price objective on Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group lowered their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Finally, StockNews.com downgraded 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.68.

Match Group 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.