Wexford Capital LP Acquires 92,355 Shares of Match Group, Inc. (NASDAQ:MTCH)

Wexford Capital LP grew its holdings in Match Group, Inc. (NASDAQ:MTCH) by 1,345.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,217 shares of the technology company’s stock after acquiring an additional 92,355 shares during the period. Wexford Capital LP’s holdings in Match Group were worth $3,245,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Match Group in the fourth quarter worth $43,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock worth $50,000 after purchasing an additional 1,512 shares in the last quarter. Assetmark Inc. increased its stake in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after purchasing an additional 378 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Match Group by 420.3% in the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,652 shares in the last quarter. Finally, State of Wyoming increased its stake in shares of Match Group by 245.5% in the fourth quarter. State of Wyoming now owns 3,507 shares of the technology company’s stock worth $115,000 after purchasing an additional 2,492 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MTCH. Hsbc Global Res cut shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Bank of America cut their target price on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Barclays cut their target price on shares of Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a research note 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 for the company in a research note on Friday, May 9th. Finally, Citigroup cut their target price 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. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Match Group presently has a consensus rating of “Hold” and an average target price of $35.91.

Insider Activity at Match Group

In other Match Group news, CEO Spencer M. Rascoff bought 70,885 shares of the business’s stock in a transaction on Friday, May 9th. The shares were acquired at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the transaction, the chief executive officer now owns 137,478 shares of the company’s stock, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on 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 directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31% decrease in their position. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

Match Group Price Performance

Shares of MTCH opened at $29.25 on Monday. Match Group, Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a 50-day moving average of $29.77 and a 200 day moving average of $31.77. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.82 and a beta of 1.42.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.60%. Match Group’s payout ratio is 37.62%.

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.