Light Street Capital Management LLC Sells 1,225,000 Shares of Match Group Inc (MTCH)
Light Street Capital Management LLC lessened its stake in shares of Match Group Inc (NASDAQ:MTCH) by 59.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 850,000 shares of the technology company’s stock after selling 1,225,000 shares during the period. Match Group makes up approximately 2.3% of Light Street Capital Management LLC’s holdings, making the stock its 15th largest holding. Light Street Capital Management LLC owned approximately 0.31% of Match Group worth $32,929,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. TLP Group LLC grew its position in Match Group by 12,204.8% in the 1st quarter. TLP Group LLC now owns 2,584 shares of the technology company’s stock valued at $115,000 after acquiring an additional 2,563 shares during the last quarter. Financial Architects Inc grew its position in Match Group by 410.3% in the 2nd quarter. Financial Architects Inc now owns 3,649 shares of the technology company’s stock valued at $141,000 after acquiring an additional 2,934 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Match Group in the 2nd quarter valued at $150,000. Strs Ohio bought a new position in Match Group in the 2nd quarter valued at $195,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Match Group in the 2nd quarter valued at $215,000. Institutional investors own 22.96% of the company’s stock.
In related news, CFO Gary Swidler sold 105,611 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $49.57, for a total transaction of $5,235,137.27. Following the sale, the chief financial officer now owns 266,010 shares of the company’s stock, valued at $13,186,115.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Jared F. Sine sold 27,343 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $48.51, for a total value of $1,326,408.93. Following the sale, the general counsel now directly owns 65,022 shares in the company, valued at approximately $3,154,217.22. The disclosure for this sale can be found here. Insiders have sold a total of 251,000 shares of company stock worth $12,382,872 in the last three months. Corporate insiders own 7.00% of the company’s stock.
Shares of MTCH traded up $0.80 during midday trading on Friday, reaching $51.22. 2,313 shares of the stock were exchanged, compared to its average volume of 2,609,586. Match Group Inc has a 52 week low of $22.02 and a 52 week high of $52.81. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 99.00, a PEG ratio of 3.30 and a beta of 0.40.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. Match Group had a return on equity of 53.18% and a net margin of 32.94%. The business had revenue of $421.20 million for the quarter, compared to the consensus estimate of $413.07 million. equities research analysts predict that Match Group Inc will post 1.23 EPS for the current year.
About Match Group
Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.
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