Wolf Hill Capital Management LP Acquires New Holdings in Match Group, Inc. (NASDAQ:MTCH)

Wolf Hill Capital Management LP purchased a new stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,360,877 shares of the technology company's stock, valued at approximately $44,514,000. Match Group accounts for 3.2% of Wolf Hill Capital Management LP's holdings, making the stock its 12th biggest position. Wolf Hill Capital Management LP owned approximately 0.54% of Match Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Boyar Asset Management Inc. purchased a new stake in shares of Match Group during the 3rd quarter worth about $1,376,000. Franklin Resources Inc. increased its position in shares of Match Group by 9.0% in the third quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company's stock worth $10,459,000 after acquiring an additional 22,887 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Match Group by 2,732.1% in the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock valued at $62,804,000 after acquiring an additional 1,601,115 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Match Group in the 4th quarter valued at $250,000. Finally, Nordea Investment Management AB raised its stake in shares of Match Group by 56.8% in the 4th quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company's stock valued at $78,733,000 after acquiring an additional 866,026 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their target price on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research note on Wednesday. Bank of America cut their target price on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Morgan Stanley cut their target price on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Evercore ISI downgraded shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 target price on the stock. in a research note on Thursday, February 6th. Finally, HSBC downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Match Group presently has an average rating of "Hold" and a consensus target price of $36.58.

Insider Activity

In other news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares of the company's stock, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.77% of the company's stock.

Match Group Trading Down 0.4 %

MTCH stock traded down $0.12 during mid-day trading on Friday, hitting $30.07. 2,734,914 shares of the company were exchanged, compared to its average volume of 4,945,981. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The firm has a fifty day simple moving average of $30.60 and a 200 day simple moving average of $32.62. The company has a market capitalization of $7.53 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. As a group, sell-side analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, April 3rd. Match Group's dividend payout ratio (DPR) is presently 37.62%.

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.