Sound Shore Management Inc. CT Purchases 792,408 Shares of Match Group Inc. (NASDAQ:MTCH)

Sound Shore Management Inc. CT boosted its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 64.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,014,123 shares of the technology company's stock after acquiring an additional 792,408 shares during the period. Match Group accounts for 2.2% of Sound Shore Management Inc. CT's portfolio, making the stock its 29th largest position. Sound Shore Management Inc. CT owned 0.80% of Match Group worth $62,841,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Starboard Value LP lifted its position in Match Group by 53.4% during the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after buying an additional 5,100,824 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Match Group by 716.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company's stock worth $171,889,000 after purchasing an additional 4,611,598 shares during the period. Norges Bank bought a new position in shares of Match Group during the fourth quarter worth approximately $112,176,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Match Group by 110.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock worth $183,968,000 after acquiring an additional 2,952,470 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Match Group by 24.2% during the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company's stock worth $343,427,000 after acquiring an additional 2,042,677 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Activity

In other Match Group news, CEO Spencer M. Rascoff acquired 70,885 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the transaction, the chief executive officer owned 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This represents a 106.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.64% of the company's stock.

Match Group Trading Down 0.3%

Shares of MTCH stock traded down $0.12 during trading hours on Monday, hitting $34.45. 1,574,336 shares of the company were exchanged, compared to its average volume of 4,700,009. The firm has a fifty day simple moving average of $31.39 and a 200 day simple moving average of $31.38. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $38.84. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 0.76 and a beta of 1.34.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.21%. Match Group's payout ratio is 37.62%.

Analysts Set New Price Targets

A number of analysts have weighed in on MTCH shares. Barclays cut their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. cut their target price on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Evercore ISI restated a "cautious" rating and issued a $32.00 target price on shares of Match Group in a research report on Wednesday, May 21st. Citigroup dropped their price target on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Match Group currently has a consensus rating of "Hold" and a consensus target price of $36.16.

Match Group Company 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.