Sterling Capital Management LLC Buys 5,473 Shares of Match Group, Inc. (NASDAQ:MTCH)

Sterling Capital Management LLC increased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 56.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,235 shares of the technology company’s stock after purchasing an additional 5,473 shares during the period. Sterling Capital Management LLC’s holdings in Match Group were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Assetmark Inc. lifted its holdings in shares of Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after acquiring an additional 378 shares during the period. Principal Securities Inc. increased its holdings in Match Group by 420.3% in the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,652 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Match Group during the fourth quarter valued at approximately $116,000. Blue Trust Inc. lifted its stake in Match Group by 96.4% in the fourth quarter. Blue Trust Inc. now owns 5,071 shares of the technology company’s stock valued at $166,000 after buying an additional 2,489 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Match Group by 432.3% during the 4th quarter. Allworth Financial LP now owns 5,387 shares of the technology company’s stock worth $175,000 after purchasing an additional 4,375 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday. HSBC lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays dropped their price target on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company 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 report on Thursday, February 6th. Finally, StockNews.com raised shares of Match Group from a “hold” rating to a “buy” rating in a research note on Thursday. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.58.

Match Group Price Performance

Shares of MTCH opened at $29.02 on Friday. The company has a market cap of $7.27 billion, a PE ratio of 14.37, a P/E/G ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a one year low of $26.39 and a one year high of $38.84. The stock has a 50-day moving average of $31.17 and a 200-day moving average of $33.01.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data 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%. Analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of Match Group 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 completion of the transaction, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is currently owned by company insiders.

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.