Match Group, Inc. (MTCH) Stake Boosted by Bank of New York Mellon Corp
Bank of New York Mellon Corp lifted its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 17.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,405 shares of the technology company’s stock after purchasing an additional 42,952 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of Match Group worth $4,943,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its position in Match Group by 19.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock valued at $114,000 after acquiring an additional 1,156 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Match Group in the 2nd quarter valued at $176,000. UBS Asset Management Americas Inc. bought a new stake in Match Group in the 1st quarter valued at $181,000. Catalyst Capital Advisors LLC bought a new stake in Match Group in the 2nd quarter valued at $254,000. Finally, Jaffetilchin Investment Partners LLC bought a new stake in Match Group in the 2nd quarter valued at $292,000. 18.97% of the stock is currently owned by institutional investors.
Several research firms recently commented on MTCH. Aegis boosted their price objective on shares of Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. BidaskClub raised shares of Match Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Citigroup Inc. boosted their price objective on shares of Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Match Group in a research report on Wednesday, September 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price objective (up from $23.00) on shares of Match Group in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. Match Group currently has a consensus rating of “Buy” and an average target price of $23.19.
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Shares of Match Group, Inc. (MTCH) opened at 25.20 on Thursday. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 35.85 and a beta of 0.56. The firm has a 50-day moving average of $22.07 and a 200 day moving average of $19.14. Match Group, Inc. has a 52 week low of $15.08 and a 52 week high of $25.51.
Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Match Group had a net margin of 16.21% and a return on equity of 34.49%. The business 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 posted $0.17 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts predict that Match Group, Inc. will post $0.79 earnings per share for the current fiscal year.
In other Match Group news, General Counsel Jared F. Sine sold 64,436 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,318,360.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Sam Yagan sold 98,854 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $19.10, for a total transaction of $1,888,111.40. Following the completion of the transaction, the insider now directly owns 84,391 shares in the company, valued at $1,611,868.10. The disclosure for this sale can be found here. Insiders sold 902,498 shares of company stock worth $19,287,878 over the last ninety days. 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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