Federated Hermes Inc. Has $132,000 Position in Match Group, Inc. (NASDAQ:MTCH)

Federated Hermes Inc. reduced its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 28.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,021 shares of the technology company’s stock after selling 1,566 shares during the quarter. Federated Hermes Inc.’s holdings in Match Group were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MTCH. Mawer Investment Management Ltd. lifted its position in Match Group by 716.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company’s stock worth $171,889,000 after buying an additional 4,611,598 shares in the last quarter. Norges Bank acquired a new position in shares of Match Group in the 4th quarter valued at $112,176,000. Arrowstreet Capital Limited Partnership grew its stake in Match Group by 110.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock valued at $183,968,000 after acquiring an additional 2,952,470 shares during the period. DnB Asset Management AS increased its stake in Match Group by 4,659.2% during the 4th quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company’s stock worth $62,643,000 after purchasing an additional 1,874,853 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after acquiring an additional 1,601,115 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MTCH shares. Barclays dropped their target price on Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Evercore ISI cut Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a report on Thursday, February 6th. Stifel Nicolaus dropped their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Hsbc Global Res lowered shares of Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.58.

Match Group Stock Performance

MTCH stock opened at $29.02 on Friday. The company has a market capitalization of $7.27 billion, a P/E ratio of 14.37, a PEG 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 company has a fifty day moving average price of $31.08 and a 200-day moving average price of $32.95.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. As a group, sell-side analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.62%. Match Group’s 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 that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the transaction, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by corporate insiders.

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.