Kingdon Capital Management L.L.C. Purchases 70,000 Shares of Match Group Inc. $MTCH

Key Points

• Kingdon Capital Management increased its stakes in Match Group Inc. by 25%, now owning 350,000 shares valued at approximately $10.92 million, making it the 19th largest position in their portfolio.
• Match Group's stock has shown significant institutional interest, with over 94% of shares owned by institutional investors and hedge funds, highlighting strong market confidence.
• The company plans to pay a quarterly dividend of $0.19 on October 17th, representing a 2.0% yield with a payout ratio of 37.44%.

Kingdon Capital Management L.L.C. boosted its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 25.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,000 shares of the technology company's stock after buying an additional 70,000 shares during the quarter. Match Group makes up approximately 1.2% of Kingdon Capital Management L.L.C.'s portfolio, making the stock its 19th biggest position. Kingdon Capital Management L.L.C. owned 0.14% of Match Group worth $10,920,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in Match Group by 12.1% in the fourth quarter. Northern Trust Corp now owns 2,533,468 shares of the technology company's stock worth $82,870,000 after purchasing an additional 273,349 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Match Group by 64.0% in the 4th quarter. AQR Capital Management LLC now owns 535,113 shares of the technology company's stock valued at $17,504,000 after acquiring an additional 208,892 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Match Group by 225.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 24,102 shares of the technology company's stock valued at $788,000 after acquiring an additional 16,698 shares during the period. Comerica Bank lifted its position in shares of Match Group by 61.0% during the 4th quarter. Comerica Bank now owns 54,715 shares of the technology company's stock valued at $1,790,000 after acquiring an additional 20,740 shares during the period. Finally, Rehmann Capital Advisory Group bought a new position in Match Group during the fourth quarter worth $602,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Buying and Selling at Match Group

In related news, Director Ann Mcdaniel sold 5,423 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the transaction, the director directly owned 21,926 shares in the company, valued at approximately $823,979.08. This represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares in the company, valued at $295,889.76. This represents a 60.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Match Group Stock Down 1.0%

MTCH traded down $0.36 during trading on Tuesday, hitting $36.98. 3,119,999 shares of the company traded hands, compared to its average volume of 4,714,795. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The stock's fifty day moving average is $34.48 and its 200 day moving average is $31.86. The firm has a market cap of $8.90 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36.

Match Group Dividend Announcement

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 given a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. Match Group's payout ratio is 37.44%.

Analyst Ratings Changes

Several research analysts have issued reports on MTCH shares. Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Susquehanna lifted their price target on shares of Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Citigroup lowered their price objective on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. UBS Group lifted their price objective on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company upped their target price on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $35.44.

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.