Brown Advisory Inc. Purchases Shares of 11,066 Match Group, Inc. (MTCH)
Brown Advisory Inc. purchased a new stake in Match Group, Inc. (NASDAQ:MTCH) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,066 shares of the technology company’s stock, valued at approximately $257,000.
Other hedge funds also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in Match Group by 20.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 143,883 shares of the technology company’s stock worth $3,337,000 after acquiring an additional 24,018 shares in the last quarter. Commonwealth Bank of Australia raised its stake in Match Group by 77.4% during the third quarter. Commonwealth Bank of Australia now owns 35,300 shares of the technology company’s stock worth $814,000 after acquiring an additional 15,400 shares in the last quarter. Wells Fargo & Company MN raised its stake in Match Group by 493.8% during the third quarter. Wells Fargo & Company MN now owns 1,003,722 shares of the technology company’s stock worth $23,276,000 after acquiring an additional 834,681 shares in the last quarter. GMT Capital Corp raised its stake in Match Group by 20.6% during the third quarter. GMT Capital Corp now owns 612,200 shares of the technology company’s stock worth $14,197,000 after acquiring an additional 104,500 shares in the last quarter. Finally, D.A. Davidson & CO. acquired a new position in Match Group during the third quarter worth about $207,000. 21.04% of the stock is owned by institutional investors and hedge funds.
In related news, Director Ann Mcdaniel sold 11,119 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $30.62, for a total value of $340,463.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.10% of the company’s stock.
Several research analysts have commented on MTCH shares. Wells Fargo & Company reissued a “buy” rating and set a $29.00 target price (up previously from $21.00) on shares of Match Group in a research note on Thursday, October 19th. Jefferies Group reissued a “buy” rating and set a $28.00 target price on shares of Match Group in a research note on Saturday, September 30th. UBS boosted their target price on Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 20th. BMO Capital Markets reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Match Group in a research note on Wednesday, September 13th. Finally, Bank of America upped their price objective on Match Group from $21.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Match Group currently has an average rating of “Buy” and an average target price of $31.09.
Match Group, Inc. (NASDAQ MTCH) opened at $28.37 on Wednesday. Match Group, Inc. has a 52 week low of $15.42 and a 52 week high of $32.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $7,902.14, a P/E ratio of 49.03, a PEG ratio of 3.74 and a beta of 0.77.
Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). Match Group had a net margin of 34.06% and a return on equity of 31.18%. The company had revenue of $343.40 million during the quarter, compared to the consensus estimate of $329.19 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. analysts expect that Match Group, Inc. will post 0.62 EPS for the current fiscal year.
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Match Group Profile
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.
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