CastleKnight Management LP Decreases Position in Match Group Inc. $MTCH

CastleKnight Management LP cut its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,840 shares of the technology company’s stock after selling 19,760 shares during the period. CastleKnight Management LP’s holdings in Match Group were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in Match Group during the third quarter valued at approximately $28,000. Activest Wealth Management raised its position in Match Group by 6,523.1% during the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the period. Rossby Financial LCC raised its position in Match Group by 126.5% during the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock valued at $31,000 after purchasing an additional 506 shares during the period. Parkside Financial Bank & Trust raised its position in Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in Match Group during the fourth quarter valued at approximately $38,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the transaction, the director owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company upped their target price on Match Group from $30.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Piper Sandler set a $51.00 target price on Match Group in a research note on Wednesday, May 6th. Morgan Stanley upped their target price on Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their target price on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Match Group presently has a consensus rating of “Hold” and a consensus price target of $41.07.

Match Group Stock Performance

MTCH opened at $35.31 on Thursday. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 0.58 and a beta of 1.33. The stock’s 50 day moving average price is $35.43 and its 200-day moving average price is $33.02. Match Group Inc. has a one year low of $28.81 and a one year high of $39.20.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. Match Group’s dividend payout ratio is currently 30.53%.

Match Group Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.