Polar Asset Management Partners Inc. Takes Position in Match Group, Inc. (NASDAQ:MTCH)

Polar Asset Management Partners Inc. acquired a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 252,200 shares of the technology company's stock, valued at approximately $8,249,000. Polar Asset Management Partners Inc. owned 0.10% of Match Group at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MTCH. Mackenzie Financial Corp raised its position in Match Group by 6.8% during the fourth quarter. Mackenzie Financial Corp now owns 59,886 shares of the technology company's stock valued at $1,959,000 after purchasing an additional 3,787 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Match Group by 4.5% in the fourth quarter. Toronto Dominion Bank now owns 133,580 shares of the technology company's stock valued at $4,369,000 after acquiring an additional 5,782 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Match Group by 8.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,286,945 shares of the technology company's stock worth $42,096,000 after buying an additional 102,830 shares during the period. Vident Advisory LLC grew its holdings in Match Group by 127.9% during the 4th quarter. Vident Advisory LLC now owns 45,370 shares of the technology company's stock worth $1,484,000 after acquiring an additional 25,459 shares during the period. Finally, Wexford Capital LP increased its holdings in Match Group by 1,345.9% in the fourth quarter. Wexford Capital LP now owns 99,217 shares of the technology company's stock worth $3,245,000 after purchasing an additional 92,355 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Match Group Price Performance

Shares of NASDAQ:MTCH traded down $0.40 during trading on Friday, hitting $29.78. 3,022,715 shares of the company were exchanged, compared to its average volume of 4,896,880. Match Group, Inc. has a 52-week low of $26.39 and a 52-week high of $38.84. The stock has a 50 day moving average of $29.51 and a 200 day moving average of $31.51. The company has a market cap of $7.46 billion, a PE ratio of 14.74, a P/E/G ratio of 0.82 and a beta of 1.42.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.55%. Match Group's dividend payout ratio is currently 37.62%.

Analyst Ratings Changes

Several equities research analysts have weighed in on MTCH shares. Hsbc Global Res downgraded shares of Match Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. Wells Fargo & Company cut their price target on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Barclays reduced their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. HSBC downgraded Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their price target on Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.91.

Insider Buying and Selling

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

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.