Hawk Ridge Capital Management LP Acquires 493,000 Shares of Match Group Inc. $MTCH

Key Points

• Hawk Ridge Capital Management LP increased its stake in Match Group Inc. by 24.4%, acquiring an additional 493,000 shares, bringing its total ownership to approximately $78.4 million.
• Match Group recently declared a quarterly dividend of $0.19 per share, representing a 2.0% annual yield, with a payout ratio of 37.44%.
• The company's stock opened at $37.59, has a market cap of $9.04 billion, and has seen analyst target price adjustments ranging from $30.00 to $46.00.

Hawk Ridge Capital Management LP lifted its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,513,002 shares of the technology company's stock after purchasing an additional 493,000 shares during the quarter. Match Group accounts for approximately 3.7% of Hawk Ridge Capital Management LP's holdings, making the stock its 13th largest position. Hawk Ridge Capital Management LP owned approximately 1.00% of Match Group worth $78,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Applied Finance Capital Management LLC raised its position in Match Group by 5.1% during the first quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock valued at $215,000 after buying an additional 334 shares during the period. Fulton Bank N.A. increased its position in Match Group by 3.9% in the 1st quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock worth $321,000 after purchasing an additional 388 shares during the last quarter. Assetmark Inc. increased its position in Match Group by 14.1% in the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock worth $108,000 after purchasing an additional 429 shares during the last quarter. Penserra Capital Management LLC increased its position in Match Group by 2.7% in the 1st quarter. Penserra Capital Management LLC now owns 17,515 shares of the technology company's stock worth $546,000 after purchasing an additional 455 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Match Group by 2.9% in the 4th quarter. Janus Henderson Group PLC now owns 20,688 shares of the technology company's stock worth $677,000 after purchasing an additional 576 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Insider Activity at Match Group

In related news, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the sale, the chief accounting officer owned 23,240 shares in the company, valued at $871,964.80. This represents a 21.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Bailey sold 12,500 shares of the 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 sale, the director owned 8,058 shares of the company's stock, valued at approximately $295,889.76. The trade was a 60.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,454 shares of company stock worth $907,839 in the last 90 days. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MTCH has been the topic of several research reports. Wells Fargo & Company upped their target price on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. UBS Group upped their target price on Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI upped their target price on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Susquehanna upped their target price on Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, Match Group currently has an average rating of "Hold" and an average target price of $35.44.

Match Group Stock Performance

Shares of MTCH traded up $0.60 during trading hours on Monday, hitting $38.77. 4,217,958 shares of the company were exchanged, compared to its average volume of 4,681,591. The company has a market cap of $9.33 billion, a PE ratio of 19.10, a PEG ratio of 0.76 and a beta of 1.36. The firm's 50 day moving average is $35.01 and its 200-day moving average is $31.94. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio is 37.44%.

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.