River Road Asset Management LLC decreased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 55.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,263 shares of the technology company’s stock after selling 285,175 shares during the period. River Road Asset Management LLC owned 87,816.25% of Match Group worth $5,340,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Swiss National Bank raised its holdings in Match Group by 10.1% during the third quarter. Swiss National Bank now owns 81,000 shares of the technology company’s stock worth $1,878,000 after purchasing an additional 7,400 shares in the last quarter. Scout Investments Inc. raised its holdings in Match Group by 17.7% during the third quarter. Scout Investments Inc. now owns 863,627 shares of the technology company’s stock worth $20,028,000 after purchasing an additional 129,732 shares in the last quarter. Keybank National Association OH raised its holdings in Match Group by 9.6% during the third quarter. Keybank National Association OH now owns 42,367 shares of the technology company’s stock worth $982,000 after purchasing an additional 3,710 shares in the last quarter. Emerald Advisers Inc. PA bought a new stake in Match Group during the third quarter worth approximately $804,000. Finally, Victory Capital Management Inc. bought a new stake in Match Group during the third quarter worth approximately $1,219,000. 19.95% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the company. Cowen and Company reissued a “buy” rating and set a $33.00 target price on shares of Match Group in a report on Friday. Barclays PLC boosted their target price on Match Group from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday. BMO Capital Markets boosted their target price on Match Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday. CIBC reissued a “market perform” rating on shares of Match Group in a report on Thursday. Finally, Jefferies Group LLC boosted their target price on Match Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $30.03.
In other Match Group news, General Counsel Jared F. Sine sold 64,436 shares of Match Group stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the transaction, the general counsel now directly owns 64,436 shares in the company, valued at approximately $1,318,360.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Sam Yagan sold 684,583 shares of Match Group stock in a transaction that occurred on 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 owns 464,963 shares in the company, valued at $10,205,937.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 902,498 shares of company stock worth $19,287,878. 18.10% of the stock is currently owned by company insiders.
Match Group, Inc. (NASDAQ:MTCH) traded down $0.10 during trading on Friday, reaching $28.46. 2,676,727 shares of the company’s stock traded hands, compared to its average volume of 1,935,377. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market capitalization of $7,488.77, a price-to-earnings ratio of 48.41, a price-to-earnings-growth ratio of 3.58 and a beta of 0.68. Match Group, Inc. has a 12-month low of $15.42 and a 12-month high of $32.87.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The business had revenue of $343.40 million during the quarter, compared to analyst estimates of $329.19 million. Match Group had a return on equity of 30.58% and a net margin of 34.06%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 EPS. analysts predict that Match Group, Inc. will post 0.63 EPS for the current fiscal year.
Match Group Company 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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