Match Group, Inc. (MTCH) Shares Bought by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC boosted its position in Match Group, Inc. (NASDAQ:MTCH) by 499.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,400 shares of the technology company’s stock after purchasing an additional 5,333 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Match Group were worth $111,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MTCH. Fox Run Management L.L.C. acquired a new position in Match Group in the 2nd quarter valued at $176,000. UBS Asset Management Americas Inc. acquired a new position in Match Group in the 1st quarter valued at $181,000. Cipher Capital LP acquired a new position in Match Group in the 2nd quarter valued at $209,000. Private Advisor Group LLC raised its stake in Match Group by 17.3% in the 2nd quarter. Private Advisor Group LLC now owns 12,389 shares of the technology company’s stock valued at $222,000 after purchasing an additional 1,828 shares during the last quarter. Finally, Advisor Group Inc. raised its stake in Match Group by 6.3% in the 2nd quarter. Advisor Group Inc. now owns 13,699 shares of the technology company’s stock valued at $238,000 after purchasing an additional 814 shares during the last quarter. 19.95% of the stock is owned by hedge funds and other institutional investors.
Match Group, Inc. (NASDAQ MTCH) opened at $26.90 on Wednesday. The firm has a market capitalization of $7,276.38, a price-to-earnings ratio of 42.69, a PEG ratio of 3.48 and a beta of 0.68. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.83. Match Group, Inc. has a twelve month low of $15.42 and a twelve month high of $27.99.
Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $329.19 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. research analysts predict that Match Group, Inc. will post 0.63 earnings per share for the current year.
Several research firms recently commented on MTCH. Wells Fargo & Company reissued a “buy” rating on shares of Match Group in a research note on Tuesday. Zacks Investment Research downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $30.00 price objective (up from $21.00) on shares of Match Group in a research note on Friday, October 13th. Cowen and Company reissued an “outperform” rating and issued a $28.00 price objective (up from $22.00) on shares of Match Group in a research note on Friday, October 13th. Finally, Barclays PLC upped their target price on Match Group from $20.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.96.
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In related news, General Counsel Jared F. Sine sold 64,436 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the completion of the transaction, the general counsel now directly owns 64,436 shares in the company, valued at approximately $1,318,360.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Sam Yagan sold 684,583 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $21.95, for a total value of $15,026,596.85. Following the transaction, the insider now owns 464,963 shares of the company’s stock, valued at $10,205,937.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 902,498 shares of company stock valued at $19,287,878. Company insiders own 18.10% of the company’s stock.
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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