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

Nordea Investment Management AB bought a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 956,047 shares of the technology company’s stock, valued at approximately $30,637,000. Nordea Investment Management AB owned about 0.40% of Match Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fieldview Capital Management LLC acquired a new position in shares of Match Group in the third quarter worth about $1,803,000. CWM LLC increased its position in shares of Match Group by 3,228.4% in the third quarter. CWM LLC now owns 266,406 shares of the technology company’s stock worth $9,409,000 after acquiring an additional 258,402 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Match Group by 611.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 116,535 shares of the technology company’s stock valued at $3,857,000 after acquiring an additional 100,163 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Match Group during the third quarter valued at approximately $1,863,000. Finally, GSA Capital Partners LLP lifted its position in shares of Match Group by 327.7% in the 3rd quarter. GSA Capital Partners LLP now owns 50,252 shares of the technology company’s stock valued at $1,775,000 after acquiring an additional 38,502 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

Shares of MTCH opened at $30.39 on Wednesday. The company has a market capitalization of $7.07 billion, a PE ratio of 12.77, a PEG ratio of 0.51 and a beta of 1.30. The company’s 50 day moving average price is $31.07 and its 200 day moving average price is $32.72. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20.

Match Group (NASDAQ:MTCH) last released 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 company had revenue of $878.01 million during the quarter, compared to analysts’ expectations of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS. On average, equities analysts forecast that Match Group Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be issued a dividend of $0.20 per share. This is a positive change 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 is Tuesday, April 7th. Match Group’s dividend payout ratio is 31.93%.

Analysts Set New Price Targets

MTCH has been the subject of a number of recent analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Match Group in a research note on Friday, March 13th. Wolfe Research set a $43.00 target price on Match Group and gave the company an “outperform” rating in a report on Monday, January 5th. TD Cowen decreased their target price on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Match Group in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. dropped their price target on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Match Group has an average rating of “Hold” and a consensus price target 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.