Groupama Asset Managment Makes New $41.66 Million Investment in Match Group, Inc. (NASDAQ:MTCH)

Groupama Asset Managment bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,273,708 shares of the technology company’s stock, valued at approximately $41,663,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MTCH. National Bank of Canada FI grew its holdings in Match Group by 12.3% during the fourth quarter. National Bank of Canada FI now owns 116,279 shares of the technology company’s stock valued at $3,803,000 after purchasing an additional 12,770 shares during the period. Franklin Resources Inc. grew its holdings in shares of Match Group by 18.0% in the 4th quarter. Franklin Resources Inc. now owns 326,655 shares of the technology company’s stock valued at $10,685,000 after buying an additional 49,880 shares during the period. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Match Group by 11.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 5,467,257 shares of the technology company’s stock valued at $178,834,000 after buying an additional 541,556 shares during the period. Wellington Management Group LLP increased its position in shares of Match Group by 13.4% in the 4th quarter. Wellington Management Group LLP now owns 9,647 shares of the technology company’s stock valued at $316,000 after buying an additional 1,139 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Match Group by 266.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 9,627 shares of the technology company’s stock worth $307,000 after buying an additional 7,000 shares during the period. 94.05% of the stock is owned by institutional investors.

Match Group Trading Up 1.9 %

Shares of MTCH opened at $31.20 on Tuesday. The company’s fifty day simple moving average is $32.82 and its 200 day simple moving average is $33.74. 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 $7.81 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.82 and a beta of 1.45.

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

Match Group declared that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, April 3rd. Match Group’s payout ratio is presently 37.62%.

Insider Buying and Selling at Match Group

In related news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction dated 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 transaction, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

MTCH has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Truist Financial lowered their target price on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. UBS Group cut their price target on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Finally, Bank of America boosted their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Match Group has a consensus rating of “Hold” and a consensus target price 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.