Flossbach Von Storch SE Buys 62,900 Shares of Match Group, Inc. (NASDAQ:MTCH)

Flossbach Von Storch SE increased its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 9.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 734,395 shares of the technology company’s stock after buying an additional 62,900 shares during the period. Flossbach Von Storch SE’s holdings in Match Group were worth $24,022,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning boosted its holdings in Match Group by 35.1% in the 3rd quarter. Creative Planning now owns 17,149 shares of the technology company’s stock valued at $649,000 after purchasing an additional 4,460 shares during the period. Blue Trust Inc. boosted its holdings in Match Group by 1,003.4% in the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the technology company’s stock valued at $98,000 after purchasing an additional 2,348 shares during the period. Private Advisor Group LLC boosted its holdings in Match Group by 3.0% in the 3rd quarter. Private Advisor Group LLC now owns 35,099 shares of the technology company’s stock valued at $1,328,000 after purchasing an additional 1,006 shares during the period. Lecap Asset Management Ltd. boosted its holdings in Match Group by 95.5% in the 3rd quarter. Lecap Asset Management Ltd. now owns 34,500 shares of the technology company’s stock valued at $1,305,000 after purchasing an additional 16,855 shares during the period. Finally, Greenleaf Trust bought a new stake in Match Group in the 3rd quarter valued at about $230,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, 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 this link. 0.77% of the stock is currently owned by corporate insiders.

Match Group Trading Down 2.2 %

Match Group stock opened at $34.47 on Thursday. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 0.85 and a beta of 1.45. The firm’s fifty day moving average price is $33.20 and its two-hundred day moving average price is $34.63.

Match Group (NASDAQ:MTCH) last announced 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 net margin of 15.84% and a negative return on equity of 574.22%. On average, research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

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

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.20%. Match Group’s dividend payout ratio is currently 37.62%.

Analyst Ratings Changes

A number of analysts have recently weighed in on MTCH shares. Morgan Stanley upped their price target on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Stifel Nicolaus lowered their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Loop Capital lowered their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.68.

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.