Penn Davis Mcfarland Inc. Purchases 8,414 Shares of Match Group, Inc. (NASDAQ:MTCH)

Penn Davis Mcfarland Inc. grew its position in Match Group, Inc. (NASDAQ:MTCH) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,913 shares of the technology company’s stock after purchasing an additional 8,414 shares during the quarter. Match Group makes up about 1.7% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 21st largest holding. Penn Davis Mcfarland Inc. owned approximately 0.19% of Match Group worth $15,665,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in Match Group by 617.3% in the 3rd 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 position in shares of Match Group in the third quarter worth about $31,000. Quarry LP grew its position in shares of Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after purchasing an additional 461 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Match Group during the 3rd quarter valued at approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Match Group by 433.5% in the 3rd 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 in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Wells Fargo & Company cut their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Evercore ISI reduced their price target on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Morgan Stanley raised their price objective on Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, KeyCorp decreased their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.72.

Match Group Stock Up 0.1 %

MTCH opened at $32.74 on Monday. The business has a fifty day moving average of $32.15 and a 200 day moving average of $34.44. The stock has a market cap of $8.22 billion, a P/E ratio of 14.62, a PEG ratio of 1.10 and a beta of 1.45. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $39.91.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s payout ratio is presently 33.93%.

Match Group declared that its board has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.77% of the company’s stock.

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.