Starboard Value LP Takes Position in Match Group, Inc. (NASDAQ:MTCH)

Starboard Value LP acquired a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,556,146 shares of the technology company’s stock, valued at approximately $361,605,000. Match Group makes up 7.7% of Starboard Value LP’s investment portfolio, making the stock its 5th biggest holding.

Several other large investors have also bought and sold shares of MTCH. Assenagon Asset Management S.A. bought a new stake in shares of Match Group during the second quarter valued at approximately $100,848,000. Pacer Advisors Inc. boosted its stake in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after purchasing an additional 2,940,667 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Match Group in the 2nd quarter worth $49,053,000. Dimensional Fund Advisors LP lifted its holdings in shares of Match Group by 75.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after purchasing an additional 977,090 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC bought a new position in shares of Match Group during the third quarter valued at $20,097,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Performance

MTCH opened at $32.74 on Monday. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.90 and a beta of 1.51. The company has a fifty day moving average of $35.33 and a 200 day moving average of $34.02. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MTCH. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Wells Fargo & Company decreased their price objective on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. KeyCorp lowered their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. UBS Group cut their target price on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada lowered their price target on Match Group from $47.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.73.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 801 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

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.