Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by Palliser Capital UK Ltd

Palliser Capital UK Ltd raised its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 76.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 233,594 shares of the technology company's stock after purchasing an additional 101,563 shares during the period. Match Group makes up approximately 6.1% of Palliser Capital UK Ltd's portfolio, making the stock its 4th biggest holding. Palliser Capital UK Ltd owned about 0.09% of Match Group worth $7,641,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sumitomo Life Insurance Co. lifted its stake in shares of Match Group by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company's stock valued at $403,000 after buying an additional 297 shares in the last quarter. Fulton Bank N.A. lifted its stake in Match Group by 3.1% in the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company's stock worth $379,000 after purchasing an additional 299 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company's stock worth $982,000 after purchasing an additional 384 shares during the period. State of Alaska Department of Revenue raised its position in shares of Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company's stock worth $1,133,000 after buying an additional 455 shares in the last quarter. Finally, Quarry LP grew its position in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company's stock worth $40,000 after buying an additional 461 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Match Group Trading Up 1.9 %

Shares of MTCH traded up $0.62 during mid-day trading on Thursday, hitting $32.69. 1,630,009 shares of the company's stock were exchanged, compared to its average volume of 3,488,905. The business's 50 day moving average is $32.19 and its two-hundred day moving average is $34.41. The firm has a market capitalization of $8.21 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.10 and a beta of 1.45. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $39.91.

Match Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, January 6th. Match Group's dividend payout ratio (DPR) is 33.93%.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares of the company's stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MTCH shares. Truist Financial lowered their target price on shares of Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 12th. BTIG Research cut shares of Match Group from a "buy" rating to a "neutral" rating in a research note on Tuesday. Loop Capital cut their price target on shares of Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, December 12th. Finally, Piper Sandler restated an "overweight" rating and set a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $37.72.

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.