Nordea Investment Management AB Takes $30.64 Million Position in Match Group Inc. $MTCH

Nordea Investment Management AB purchased a new stake in Match Group Inc. (NASDAQ:MTCH) in the 4th quarter, HoldingsChannel reports. The firm purchased 956,047 shares of the technology company’s stock, valued at approximately $30,637,000.

A number of other hedge funds have also recently added to or reduced their stakes in MTCH. Harbor Capital Advisors Inc. bought a new position in Match Group during the third quarter valued at approximately $25,000. Root Financial Partners LLC bought a new stake in Match Group in the third quarter worth approximately $27,000. Employees Retirement System of Texas acquired a new position in shares of Match Group during the 2nd quarter worth $28,000. Advisory Services Network LLC acquired a new position in shares of Match Group during the 3rd quarter worth $28,000. Finally, Rossby Financial LCC raised its holdings in shares of Match Group by 126.5% during the 3rd quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock valued at $31,000 after purchasing an additional 506 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Trading Down 2.6%

Shares of Match Group stock opened at $30.39 on Wednesday. The firm has a fifty day simple moving average of $31.07 and a 200-day simple moving average of $32.72. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.51 and a beta of 1.30. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20.

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

Match Group Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wolfe Research set a $43.00 price objective on shares of Match Group and gave the company an “outperform” rating in a research note on Monday, January 5th. Raymond James Financial reissued a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. UBS Group reaffirmed a “neutral” rating on shares of Match Group in a research report on Friday, March 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research note on Thursday, January 22nd. Finally, TD Cowen decreased their price target on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Match Group has an average rating of “Hold” and a consensus target price of $35.86.

Match Group Company 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.