Mik Capital LLC Invests $23.04 Million in Match Group, Inc. (MTCH)
Mik Capital LLC bought a new position in Match Group, Inc. (NASDAQ:MTCH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,325,811 shares of the technology company’s stock, valued at approximately $23,043,000. Match Group accounts for approximately 5.2% of Mik Capital LLC’s portfolio, making the stock its 10th largest position. Mik Capital LLC owned approximately 0.51% of Match Group as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Mutual of America Capital Management LLC increased its position in Match Group by 19.9% in the first quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock valued at $114,000 after buying an additional 1,156 shares in the last quarter. TLP Group LLC bought a new position in Match Group during the first quarter valued at approximately $154,000. Private Advisor Group LLC bought a new position in Match Group during the first quarter valued at approximately $174,000. Fox Run Management L.L.C. bought a new position in Match Group during the second quarter valued at approximately $176,000. Finally, UBS Asset Management Americas Inc. bought a new position in Match Group during the first quarter valued at approximately $181,000. Institutional investors and hedge funds own 19.05% of the company’s stock.
Match Group, Inc. (NASDAQ:MTCH) opened at 19.31 on Tuesday. The firm has a market capitalization of $5.06 billion, a P/E ratio of 27.47 and a beta of 0.64. Match Group, Inc. has a 1-year low of $14.88 and a 1-year high of $20.75. The company has a 50 day moving average of $18.60 and a 200 day moving average of $17.93.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by $0.03. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The company had revenue of $309.57 million during the quarter, compared to the consensus estimate of $310.36 million. During the same period last year, the business earned $0.17 EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that Match Group, Inc. will post $0.88 earnings per share for the current year.
Match Group announced that its board has initiated a stock repurchase program on Tuesday, May 2nd that allows the company to buyback 6,000,000 shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Several research firms have commented on MTCH. BidaskClub downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research downgraded shares of Match Group from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Aegis upped their price objective on shares of Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Vetr downgraded shares of Match Group from a “buy” rating to a “hold” rating and set a $20.78 price objective on the stock. in a report on Tuesday, May 30th. Finally, Jefferies Group LLC upped their price objective on shares of Match Group from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $20.62.
In other news, Vice Chairman Sam Yagan sold 54,625 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $19.31, for a total value of $1,054,808.75. Following the transaction, the insider now owns 98,854 shares of the company’s stock, valued at $1,908,870.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.10% of the stock is owned by company insiders.
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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