River Road Asset Management LLC Sells 77,527 Shares of Match Group, Inc. (MTCH)
River Road Asset Management LLC lowered its stake in Match Group, Inc. (NASDAQ:MTCH) by 13.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,438 shares of the technology company’s stock after selling 77,527 shares during the period. River Road Asset Management LLC owned approximately 0.20% of Match Group worth $8,958,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Match Group by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 5,357,285 shares of the technology company’s stock valued at $87,484,000 after buying an additional 802,377 shares during the last quarter. Schroder Investment Management Group increased its stake in Match Group by 58.6% in the first quarter. Schroder Investment Management Group now owns 4,911,935 shares of the technology company’s stock valued at $80,801,000 after buying an additional 1,815,822 shares during the last quarter. Vanguard Group Inc. increased its stake in Match Group by 47.1% in the first quarter. Vanguard Group Inc. now owns 4,650,419 shares of the technology company’s stock valued at $75,941,000 after buying an additional 1,488,472 shares during the last quarter. First Manhattan Co. increased its stake in Match Group by 18,454.2% in the second quarter. First Manhattan Co. now owns 667,950 shares of the technology company’s stock valued at $11,608,000 after buying an additional 664,350 shares during the last quarter. Finally, UBS Oconnor LLC bought a new stake in Match Group during the first quarter valued at $9,743,000. Institutional investors and hedge funds own 19.05% of the company’s stock.
Shares of Match Group, Inc. (MTCH) opened at 19.76 on Wednesday. The firm has a 50-day moving average of $18.60 and a 200-day moving average of $17.93. The firm has a market capitalization of $5.18 billion, a P/E ratio of 28.11 and a beta of 0.64. Match Group, Inc. has a one year low of $14.88 and a one year high of $20.75.
Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $309.57 million during the quarter, compared to analyst estimates of $310.36 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. Match Group’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS. On average, equities analysts predict that Match Group, Inc. will post $0.88 earnings per share for the current fiscal year.
Match Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 2nd that authorizes the company to repurchase 6,000,000 shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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MTCH has been the subject of several research analyst reports. BidaskClub downgraded shares of Match Group from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Vetr raised shares of Match Group from a “buy” rating to a “strong-buy” rating and set a $21.09 price objective for the company in a report on Wednesday, May 17th. Zacks Investment Research downgraded shares of Match Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Match Group in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Match Group presently has a consensus rating of “Buy” and a consensus price target of $20.62.
In other news, Vice Chairman Sam Yagan sold 98,854 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $19.10, for a total value of $1,888,111.40. Following the completion of the sale, the insider now owns 84,391 shares of the company’s stock, valued at $1,611,868.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 18.10% of the company’s stock.
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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