Mendota Financial Group LLC Sells 1,369 Shares of Match Group, Inc. (NASDAQ:MTCH)

Mendota Financial Group LLC decreased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 26.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,821 shares of the technology company’s stock after selling 1,369 shares during the quarter. Mendota Financial Group LLC’s holdings in Match Group were worth $125,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of Match Group by 11.7% during the second quarter. Commonwealth Equity Services LLC now owns 9,993 shares of the technology company’s stock valued at $304,000 after buying an additional 1,046 shares during the last quarter. Black Creek Investment Management Inc. boosted its holdings in Match Group by 164.7% during the 2nd quarter. Black Creek Investment Management Inc. now owns 225,000 shares of the technology company’s stock worth $6,836,000 after acquiring an additional 140,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Match Group by 75.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after purchasing an additional 977,090 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Match Group by 13.3% during the second quarter. Renaissance Technologies LLC now owns 1,150,964 shares of the technology company’s stock valued at $34,966,000 after purchasing an additional 135,100 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Match Group during the second quarter worth about $264,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday. Wells Fargo & Company dropped their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Piper Sandler restated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th. Barclays lowered their target price on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, Evercore ISI reduced their price target on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. Thirteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.72.

Match Group Stock Up 1.2 %

Match Group stock opened at $31.17 on Tuesday. The business has a 50-day simple moving average of $32.30 and a 200 day simple moving average of $34.40. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $39.91. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.18 and a beta of 1.45.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, January 6th. Match Group’s dividend payout ratio is currently 33.93%.

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

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated Friday, November 22nd. The stock was 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 of the company’s stock, valued at $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.77% of the company’s stock.

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.