Macquarie Group Ltd. lowered its stake in shares of Match Group Inc (NASDAQ:MTCH) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,162,117 shares of the technology company’s stock after selling 34,615 shares during the quarter. Macquarie Group Ltd. owned about 0.41% of Match Group worth $78,175,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Match Group by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,319,263 shares of the technology company’s stock valued at $425,097,000 after acquiring an additional 48,969 shares during the last quarter. JPMorgan Chase & Co. increased its position in Match Group by 8.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,469,837 shares of the technology company’s stock worth $373,207,000 after purchasing an additional 425,333 shares in the last quarter. Renaissance Technologies LLC increased its position in Match Group by 30.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,821,900 shares of the technology company’s stock worth $189,829,000 after purchasing an additional 665,600 shares in the last quarter. Bank of America Corp DE increased its position in Match Group by 24.5% during the 2nd quarter. Bank of America Corp DE now owns 1,187,742 shares of the technology company’s stock worth $79,899,000 after purchasing an additional 233,918 shares in the last quarter. Finally, Gladstone Capital Management LLP increased its position in Match Group by 24.1% during the 2nd quarter. Gladstone Capital Management LLP now owns 1,041,364 shares of the technology company’s stock worth $70,053,000 after purchasing an additional 202,312 shares in the last quarter. 22.81% of the stock is owned by institutional investors.
A number of analysts recently issued reports on MTCH shares. Citigroup started coverage on shares of Match Group in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Barclays reissued an “equal weight” rating and set a $88.00 target price (up previously from $66.00) on shares of Match Group in a research report on Thursday, August 8th. Jefferies Financial Group increased their target price on shares of Match Group from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. They noted that the move was a valuation call. BidaskClub downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Aegis reissued a “buy” rating and set a $105.00 target price on shares of Match Group in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $90.06.
Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The firm had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $489.16 million. Match Group had a return on equity of 166.69% and a net margin of 26.51%. Match Group’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, sell-side analysts expect that Match Group Inc will post 1.77 EPS for the current fiscal year.
In other news, CAO Philip D. Eigenmann sold 7,057 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $84.49, for a total transaction of $596,245.93. Following the completion of the transaction, the chief accounting officer now directly owns 13,133 shares in the company, valued at approximately $1,109,607.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jared F. Sine sold 24,641 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $81.58, for a total value of $2,010,212.78. Following the transaction, the insider now owns 39,649 shares of the company’s stock, valued at $3,234,565.42. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
Match Group Company Profile
Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.
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