Starboard Value LP Makes New $361.61 Million Investment in Match Group, Inc. (NASDAQ:MTCH)

Starboard Value LP purchased a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 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 largest position. Starboard Value LP owned approximately 3.71% of Match Group at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Versor Investments LP raised its stake in Match Group by 301.7% in the third quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock valued at $1,824,000 after purchasing an additional 36,200 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Match Group by 146.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 140,090 shares of the technology company’s stock valued at $4,929,000 after buying an additional 83,166 shares in the last quarter. Aviance Capital Partners LLC purchased a new stake in shares of Match Group during the 3rd quarter valued at $2,170,000. Cetera Investment Advisers lifted its holdings in shares of Match Group by 98.0% during the 1st quarter. Cetera Investment Advisers now owns 79,526 shares of the technology company’s stock worth $2,885,000 after acquiring an additional 39,357 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its stake in Match Group by 71.4% in the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock valued at $24,344,000 after acquiring an additional 267,890 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now directly owns 12,398 shares of the company’s stock, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several research analyst reports. Hsbc Global Res raised Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. KeyCorp dropped their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Morgan Stanley reduced their price target on shares of Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. UBS Group lowered their price objective on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.73.

Match Group Trading Up 0.7 %

NASDAQ:MTCH opened at $32.74 on Monday. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $42.42. The company has a 50-day moving average price of $35.33 and a 200-day moving average price of $34.02. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.90 and a beta of 1.51.

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.