Aristeia Capital L.L.C. Takes $229,000 Position in Match Group Inc. $MTCH

Key Points

• Aristeia Capital L.L.C. acquired 7,327 shares of Match Group Inc. valued at approximately $229,000, signaling ongoing interest from institutional investors in the company's stock.
• Insider transactions have been notable, with Director Ann Mcdaniel selling 5,423 shares, representing a 19.83% decrease in her position, and Chief Accounting Officer Philip D. Eigenmann selling 6,531 shares, indicating a trend of insider selling.
• Match Group has announced a quarterly dividend of $0.19 per share, which reflects a 2.0% dividend yield, to be paid to stockholders of record on October 3rd.

Aristeia Capital L.L.C. bought a new position in Match Group Inc. (NASDAQ:MTCH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,327 shares of the technology company's stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTCH. NBC Securities Inc. acquired a new stake in shares of Match Group in the 1st quarter worth about $37,000. SVB Wealth LLC acquired a new stake in shares of Match Group in the 1st quarter worth about $49,000. Summit Securities Group LLC purchased a new stake in Match Group in the 1st quarter valued at about $54,000. Mather Group LLC. increased its stake in Match Group by 130.1% in the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after buying an additional 1,434 shares during the last quarter. Finally, CX Institutional purchased a new stake in Match Group in the 1st quarter valued at about $103,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares of the company's stock, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mcdaniel sold 5,423 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the completion of the sale, the director owned 21,926 shares in the company, valued at $823,979.08. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,454 shares of company stock valued at $907,839. Company insiders own 0.64% of the company's stock.

Match Group Price Performance

Shares of Match Group stock traded down $0.27 on Friday, reaching $37.75. 3,824,571 shares of the company traded hands, compared to its average volume of 3,228,582. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The company has a 50 day moving average of $35.60 and a 200 day moving average of $32.14. The firm has a market capitalization of $9.08 billion, a PE ratio of 18.60, a PEG ratio of 0.75 and a beta of 1.36.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 annualized dividend and a yield of 2.0%. Match Group's dividend payout ratio (DPR) is 37.44%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MTCH shares. JPMorgan Chase & Co. increased their price objective on shares of Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Wells Fargo & Company increased their price objective on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. UBS Group increased their price objective on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI increased their price objective on shares of Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $35.44.

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.