Polar Asset Management Partners Inc. Makes New Investment in Match Group, Inc. (NASDAQ:MTCH)

Polar Asset Management Partners Inc. purchased a new stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 252,200 shares of the technology company's stock, valued at approximately $8,249,000. Polar Asset Management Partners Inc. owned about 0.10% of Match Group as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan acquired a new position in Match Group in the 4th quarter valued at $43,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Match Group by 30,240.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after buying an additional 1,512 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after buying an additional 378 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock worth $107,000 after buying an additional 2,652 shares during the last quarter. Finally, State of Wyoming increased its holdings in shares of Match Group by 245.5% during the 4th quarter. State of Wyoming now owns 3,507 shares of the technology company's stock worth $115,000 after buying an additional 2,492 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Trading Up 0.7%

NASDAQ:MTCH traded up $0.22 on Wednesday, reaching $30.54. The stock had a trading volume of 4,517,306 shares, compared to its average volume of 4,914,077. The company has a 50-day moving average of $29.57 and a 200 day moving average of $31.53. The stock has a market cap of $7.65 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a 12-month low of $26.39 and a 12-month high of $38.84.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.49%. Match Group's payout ratio is 37.62%.

Insider Transactions at Match Group

In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This trade represents a 99.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Spencer M. Rascoff purchased 70,885 shares of Match Group stock in a transaction dated Friday, May 9th. The shares were bought at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the transaction, the chief executive officer now directly owns 137,478 shares of the company's stock, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore ISI restated a "cautious" rating and set a $32.00 price objective on shares of Match Group in a report on Wednesday, May 21st. Morgan Stanley dropped their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Wells Fargo & Company dropped their price objective on Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Finally, Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Match Group currently has an average rating of "Hold" and an average target price of $35.91.

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.