Dynamic Technology Lab Private Ltd Buys Shares of 33,574 Match Group, Inc. (MTCH)
Dynamic Technology Lab Private Ltd bought a new position in Match Group, Inc. (NASDAQ:MTCH) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,574 shares of the technology company’s stock, valued at approximately $778,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Match Group by 34.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock worth $108,945,000 after purchasing an additional 1,617,950 shares during the period. JPMorgan Chase & Co. boosted its stake in Match Group by 0.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,377,345 shares of the technology company’s stock worth $93,457,000 after purchasing an additional 20,060 shares during the period. Light Street Capital Management LLC bought a new position in Match Group in the 2nd quarter worth about $39,974,000. Voya Investment Management LLC boosted its stake in Match Group by 16.4% in the 2nd quarter. Voya Investment Management LLC now owns 1,674,074 shares of the technology company’s stock worth $29,095,000 after purchasing an additional 235,355 shares during the period. Finally, Mik Capital LLC bought a new position in Match Group in the 2nd quarter worth about $23,043,000. Institutional investors and hedge funds own 20.73% of the company’s stock.
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In related news, Vice Chairman Sam Yagan sold 684,583 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $21.95, for a total transaction of $15,026,596.85. Following the transaction, the insider now directly owns 464,963 shares of the company’s stock, valued at approximately $10,205,937.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Jared F. Sine sold 64,436 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total value of $1,318,360.56. Following the transaction, the general counsel now directly owns 64,436 shares in the company, valued at $1,318,360.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 847,873 shares of company stock worth $18,233,069. 18.10% of the stock is currently owned by insiders.
Several analysts have weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $30.00 price target (up previously from $21.00) on shares of Match Group in a report on Friday, October 13th. Cowen Inc reaffirmed an “outperform” rating and issued a $28.00 price target (up previously from $22.00) on shares of Match Group in a report on Friday, October 13th. UBS AG cut Match Group from an “outperform” rating to a “market perform” rating and raised their price target for the company from $28.00 to $35.00 in a report on Thursday, November 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Match Group in a report on Saturday, September 30th. Finally, CIBC reaffirmed a “market perform” rating on shares of Match Group in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $30.89.
Match Group, Inc. (NASDAQ:MTCH) opened at $29.96 on Friday. The firm has a market capitalization of $8,183.48, a PE ratio of 50.78, a P/E/G ratio of 3.80 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.40. Match Group, Inc. has a 1-year low of $15.42 and a 1-year high of $32.87.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $329.19 million. Match Group had a net margin of 34.06% and a return on equity of 31.18%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. research analysts anticipate that Match Group, Inc. will post 0.63 earnings per share for the current year.
About Match Group
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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