Tremblant Capital Group Takes $4.23 Million Position in Match Group, Inc. (NASDAQ:MTCH)

Tremblant Capital Group acquired a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 129,271 shares of the technology company’s stock, valued at approximately $4,228,000. Tremblant Capital Group owned about 0.05% of Match Group as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Metis Global Partners LLC increased its stake in Match Group by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock valued at $358,000 after acquiring an additional 318 shares during the period. Cornerstone Investment Partners LLC increased its stake in Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock valued at $520,000 after acquiring an additional 349 shares during the period. Assetmark Inc. increased its stake in Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after acquiring an additional 378 shares during the period. Ontario Teachers Pension Plan Board increased its stake in Match Group by 1.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company’s stock valued at $757,000 after acquiring an additional 415 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in Match Group by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company’s stock worth $2,445,000 after buying an additional 478 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Transactions at Match Group

In other Match Group news, CEO Spencer M. Rascoff purchased 70,885 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the purchase, the chief executive officer now owns 137,478 shares in the company, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now directly owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This trade represents a 99.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $29.25 on Monday. Match Group, Inc. has a 52 week low of $26.39 and a 52 week high of $38.84. The stock has a 50 day moving average price of $29.77 and a 200 day moving average price of $31.77. The stock has a market capitalization of $7.33 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Analyst Ratings Changes

Several research firms have recently commented on MTCH. Wells Fargo & Company lowered their target price on Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Evercore ISI reduced their target price on shares of Match Group from $35.00 to $32.00 and set an “in-line” rating on the stock in a research note on Monday, May 12th. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus reduced their price objective on shares of Match Group from $35.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.91.

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.