Bank of New York Mellon Corp Has $1,977,000 Position in Match Group Inc. (MTCH)
Bank of New York Mellon Corp increased its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 11.8% during the second quarter, Holdings Channel reports. The fund owned 131,074 shares of the company’s stock after buying an additional 13,841 shares during the period. Bank of New York Mellon Corp owned approximately 0.05% of Match Group worth $1,977,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Invictus RG bought a new stake in Match Group during the first quarter valued at about $152,000. Pacad Investment Ltd. bought a new stake in Match Group during the first quarter valued at about $153,000. Alpine Partners VI LLC bought a new stake in Match Group during the first quarter valued at about $177,000. Osmium Partners LLC bought a new stake in Match Group during the first quarter valued at about $243,000. Finally, Menta Capital LLC bought a new stake in Match Group during the first quarter valued at about $300,000. 15.80% of the stock is owned by institutional investors and hedge funds.
Shares of Match Group Inc. (NASDAQ:MTCH) traded down 1.7418% on Friday, hitting $17.1657. The stock had a trading volume of 611,418 shares. The stock has a 50 day moving average of $16.34 and a 200 day moving average of $14.44. The firm has a market cap of $4.32 billion and a price-to-earnings ratio of 36.1383. Match Group Inc. has a 12-month low of $8.41 and a 12-month high of $18.20.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company earned $301.12 million during the quarter, compared to analysts’ expectations of $295.12 million. The business’s revenue was up 21.0% compared to the same quarter last year. Equities analysts predict that Match Group Inc. will post $0.73 earnings per share for the current fiscal year.
MTCH has been the subject of several analyst reports. Axiom Securities reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Match Group in a research note on Tuesday, July 26th. Zacks Investment Research raised Match Group from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Friday, July 15th. SunTrust Banks Inc. reissued a “buy” rating and set a $18.00 price target (up from $15.00) on shares of Match Group in a research note on Friday, July 15th. Deutsche Bank AG raised their price target on Match Group from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $20.00 price target on shares of Match Group in a research note on Tuesday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Match Group currently has a consensus rating of “Hold” and an average target price of $16.46.
In related news, Vice Chairman Sam Yagan sold 1,505,985 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $16.50, for a total value of $24,848,752.50. Following the transaction, the insider now directly owns 143,372 shares in the company, valued at $2,365,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amarnath Thombre sold 2,632 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $16.76, for a total value of $44,112.32. Following the completion of the transaction, the insider now owns 2,632 shares in the company, valued at $44,112.32. The disclosure for this sale can be found here. 19.90% of the stock is owned by corporate insiders.
About Match Group
Match Group, Inc is a provider of dating products. The Company operates in two segments: Dating and Non-dating. Its Dating segment provides dating products and the Company’s Non-dating segment provides various education services, including test preparation, academic tutoring and college counseling services.
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