South Dakota Investment Council Sells 121,666 Shares of Match Group Inc. $MTCH

South Dakota Investment Council reduced its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 51.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,898 shares of the technology company’s stock after selling 121,666 shares during the quarter. South Dakota Investment Council’s holdings in Match Group were worth $4,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTCH. Ameriprise Financial Inc. raised its holdings in Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after purchasing an additional 162,330 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of Match Group by 7.8% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 5,852,947 shares of the technology company’s stock worth $180,798,000 after buying an additional 424,232 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Match Group by 7.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,287,202 shares of the technology company’s stock worth $163,322,000 after acquiring an additional 349,963 shares in the last quarter. LSV Asset Management lifted its position in Match Group by 37.8% during the third quarter. LSV Asset Management now owns 4,770,780 shares of the technology company’s stock valued at $168,504,000 after acquiring an additional 1,307,949 shares during the last quarter. Finally, Norges Bank acquired a new stake in Match Group in the second quarter valued at approximately $134,429,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

Shares of MTCH opened at $30.80 on Wednesday. The stock has a 50-day moving average of $31.54 and a two-hundred day moving average of $33.41. The stock has a market cap of $7.27 billion, a P/E ratio of 12.94, a P/E/G ratio of 0.60 and a beta of 1.30. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.17). The firm had revenue of $878.01 million during the quarter, compared to analysts’ expectations of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. Analysts predict that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be issued a $0.20 dividend. This is an increase from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. Match Group’s payout ratio is currently 31.93%.

Analysts Set New Price Targets

MTCH has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their target price on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. TD Cowen lowered their price target on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Wolfe Research set a $43.00 price target on Match Group and gave the stock an “outperform” rating in a research note on Monday, January 5th. Finally, UBS Group set a $34.00 price objective on shares of Match Group in a research report on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.86.

Match Group Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.