IAC Acquires 259,000 Match Group Shares

InterActive Corp has disclosed the acquisition of a further 259,000 Match Group shares. The shares were purchased at average prices ranging between $35.23 and $59.25.

Seeking Alpha reports that: “The acquisitions represent Match shares as reimbursement for IAC shares issued in connection with the settlement of Match equity awards and the exercise of IAC stock options.”  

MTCH hit its highest ever valuation in September, crossing $60 per share on the 18th. It is currently valued at $57.29.

The stock has recovered impressively since Facebook announced its move into the dating niche. After Zuckerberg broke the news in May, Match plummeted to under $35 per share.

In August, Match Group CEO Mandy Ginsberg sold 63% of her holdings. The average price of the shares sold was $49.37, with the sales totalling $5,275,184.50.

The rise in price since then is particularly notable given the ongoing IP legal difficulties Match Group faces, and the looming threat of a Bumble IPO.

Match Group is ranked 353rd on the Russell 1000, with a market cap of approximately $15,100,000,000 at the time of writing.

The company does not appear on the S&P 500 despite its high valuation. This is likely because of the perception that tech companies are holding too much weight on the popular index (which is compiled by a committee interested in balance).

Last month, giants Google and Facebook were reclassified as communication companies by the S&P 500 to address the extremely high valuation of tech. There may be room in the selection process for more tech companies as a result of the change.

Find the filing here.