Match Group, Inc. (NASDAQ:MTCH) Holdings Boosted by Palliser Capital UK Ltd

Palliser Capital UK Ltd increased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 76.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,594 shares of the technology company’s stock after purchasing an additional 101,563 shares during the period. Match Group accounts for 6.1% of Palliser Capital UK Ltd’s holdings, making the stock its 4th biggest holding. Palliser Capital UK Ltd’s holdings in Match Group were worth $7,641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTCH. Starboard Value LP bought a new stake in shares of Match Group in the third quarter worth about $361,605,000. Versor Investments LP raised its holdings in shares of Match Group by 301.7% during the 3rd quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock worth $1,824,000 after acquiring an additional 36,200 shares in the last quarter. Paloma Partners Management Co boosted its position in shares of Match Group by 510.3% during the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock valued at $2,463,000 after acquiring an additional 54,422 shares during the last quarter. Aviance Capital Partners LLC bought a new stake in Match Group in the third quarter worth $2,170,000. Finally, Mawer Investment Management Ltd. raised its stake in Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock valued at $24,344,000 after purchasing an additional 267,890 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $33.00 target price (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Morgan Stanley increased their price target on Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Evercore ISI dropped their price target on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.72.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated 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. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is owned by company insiders.

Match Group Price Performance

NASDAQ MTCH opened at $32.07 on Thursday. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $39.91. The company has a market cap of $8.05 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. The stock’s 50 day simple moving average is $32.19 and its 200-day simple moving average is $34.41.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is currently 33.93%.

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

About Match Group

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.