Teachers Retirement System of The State of Kentucky Reduces Holdings in Match Group, Inc. (NASDAQ:MTCH)

Teachers Retirement System of The State of Kentucky reduced its stake in Match Group, Inc. (NASDAQ:MTCH) by 11.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,800 shares of the technology company’s stock after selling 2,686 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Match Group were worth $749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Venturi Wealth Management LLC increased its stake in shares of Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Match Group in the 3rd quarter worth $31,000. Quarry LP increased its position in shares of Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after acquiring an additional 461 shares during the period. Northwest & Ethical Investments L.P. bought a new position in shares of Match Group during the third quarter valued at about $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 94.05% of the company’s stock.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares in the company, valued at $391,900.78. The trade was a 6.07 % 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. Insiders own 0.77% of the company’s stock.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $31.08 on Thursday. The business has a fifty day moving average price of $34.01 and a 200-day moving average price of $34.19. The company has a market capitalization of $7.80 billion, a PE ratio of 13.88, a PEG ratio of 1.18 and a beta of 1.47. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $42.42.

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

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.45%. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MTCH. Stifel Nicolaus reduced their price target on Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Bank of America boosted their target price on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Loop Capital dropped their price target on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Match Group in a research report on Thursday, December 12th. Finally, Morgan Stanley decreased their price objective on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Thirteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.68.

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.