Kornitzer Capital Management Inc. KS Lowers Stock Holdings in Match Group Inc. $MTCH

Kornitzer Capital Management Inc. KS lessened its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 42.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 106,185 shares of the technology company’s stock after selling 79,142 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Match Group were worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Match Group by 3,228.4% in the 3rd quarter. CWM LLC now owns 266,406 shares of the technology company’s stock worth $9,409,000 after acquiring an additional 258,402 shares during the period. PNC Financial Services Group Inc. lifted its position in Match Group by 71.2% in the second quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company’s stock valued at $965,000 after purchasing an additional 12,987 shares during the period. Public Employees Retirement System of Ohio lifted its position in Match Group by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock valued at $2,780,000 after purchasing an additional 10,269 shares during the period. Meritage Portfolio Management acquired a new position in Match Group during the 2nd quarter worth approximately $693,000. Finally, Patton Fund Management Inc. purchased a new position in shares of Match Group during the 2nd quarter worth approximately $226,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Match Group news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction dated Thursday, November 20th. The stock was bought at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the purchase, the chief executive officer owned 165,128 shares in the company, valued at $5,257,675.52. This represents a 9.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.64% of the stock is currently owned by insiders.

Match Group Price Performance

Shares of Match Group stock opened at $31.72 on Wednesday. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The company has a market capitalization of $7.49 billion, a PE ratio of 14.82, a P/E/G ratio of 0.60 and a beta of 1.33. The business has a 50-day moving average of $32.54 and a 200-day moving average of $34.04.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.4%. Match Group’s payout ratio is currently 35.51%.

Analyst Ratings Changes

MTCH has been the topic of a number of analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Match Group in a research note on Wednesday, December 10th. Truist Financial reduced their price objective on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Morgan Stanley boosted their target price on shares of Match Group from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Raymond James Financial reaffirmed a “market perform” rating on shares of Match Group in a research note on Wednesday, December 10th. Finally, UBS Group set a $37.00 price objective on shares of Match Group in a research report on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.38.

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.