Bridgewater Associates LP Acquires 234,850 Shares of Match Group, Inc. (NASDAQ:MTCH)

Bridgewater Associates LP lifted its holdings in Match Group, Inc. (NASDAQ:MTCH) by 58.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 636,998 shares of the technology company’s stock after purchasing an additional 234,850 shares during the quarter. Bridgewater Associates LP owned 0.25% of Match Group worth $20,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Post Corp Registered Pension Plan purchased a new position in Match Group in the 4th quarter worth about $43,000. Assetmark Inc. raised 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 purchasing an additional 378 shares during the last quarter. Principal Securities Inc. lifted its position in Match Group by 420.3% during 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 period. SBI Securities Co. Ltd. bought a new position in Match Group during the fourth quarter valued at approximately $116,000. Finally, Blue Trust Inc. boosted its holdings in Match Group by 96.4% in the fourth quarter. Blue Trust Inc. now owns 5,071 shares of the technology company’s stock worth $166,000 after purchasing an additional 2,489 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $29.08 on Wednesday. The company has a market cap of $7.28 billion, a P/E ratio of 14.40, a P/E/G ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a 52-week low of $26.39 and a 52-week high of $38.84. The firm’s fifty day moving average is $31.37 and its two-hundred day moving average is $33.10.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (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%. As a group, analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

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 given a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.61%. Match Group’s dividend payout ratio is currently 37.62%.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MTCH has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Hsbc Global Res downgraded Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $33.00 target price (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Morgan Stanley lifted their price target on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, HSBC cut Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.63.

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.