Incline Global Management LLC Sells 75,894 Shares of Match Group, Inc. (NASDAQ:MTCH)

Incline Global Management LLC lowered its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,348 shares of the technology company’s stock after selling 75,894 shares during the quarter. Match Group accounts for 4.8% of Incline Global Management LLC’s investment portfolio, making the stock its 2nd largest holding. Incline Global Management LLC owned 0.11% of Match Group worth $10,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Starboard Value LP bought a new stake in shares of Match Group in the third quarter worth approximately $361,605,000. Assenagon Asset Management S.A. purchased a new position in Match Group during the 2nd quarter worth $100,848,000. Pacer Advisors Inc. boosted its stake in shares of Match Group by 88.5% in the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after buying an additional 2,940,667 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Match Group during the second quarter valued at approximately $49,053,000. Finally, Dimensional Fund Advisors LP grew its position in Match Group by 75.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after acquiring an additional 977,090 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

Match Group stock traded up $0.28 during midday trading on Tuesday, reaching $33.48. 116,896 shares of the stock were exchanged, compared to its average volume of 5,182,630. The company’s fifty day moving average is $35.26 and its 200-day moving average is $34.03. The firm has a market cap of $8.41 billion, a PE ratio of 14.82, a PEG ratio of 0.90 and a beta of 1.47. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $42.42.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MTCH shares. Morgan Stanley lowered their price target on Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Barclays lowered their price objective on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp reduced their price target 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. Finally, Truist Financial lowered their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.73.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.

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.