Geode Capital Management LLC Purchases 27,783 Shares of Match Group, Inc. (MTCH)
Geode Capital Management LLC boosted its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 9.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 331,432 shares of the technology company’s stock after buying an additional 27,783 shares during the period. Geode Capital Management LLC’s holdings in Match Group were worth $5,412,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its position in shares of Match Group by 19.9% in the first quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock valued at $114,000 after buying an additional 1,156 shares in the last quarter. TLP Group LLC purchased a new position in shares of Match Group during the first quarter valued at about $154,000. Private Advisor Group LLC purchased a new position in shares of Match Group during the first quarter valued at about $174,000. UBS Asset Management Americas Inc. purchased a new position in shares of Match Group during the first quarter valued at about $181,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Match Group during the first quarter valued at about $304,000. 20.89% of the stock is currently owned by institutional investors.
Match Group, Inc. (NASDAQ:MTCH) traded up 3.25% during midday trading on Friday, hitting $18.76. 1,089,264 shares of the company traded hands. The stock has a market cap of $4.92 billion, a P/E ratio of 26.69 and a beta of 0.64. Match Group, Inc. has a 12-month low of $14.32 and a 12-month high of $20.75. The stock has a 50 day moving average of $18.23 and a 200 day moving average of $17.83.
Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.03. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The company had revenue of $309.57 million during the quarter, compared to analyst estimates of $310.36 million. During the same quarter last year, the business earned $0.17 EPS. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts predict that Match Group, Inc. will post $0.88 EPS for the current fiscal year.
Match Group declared that its board has authorized a share buyback 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. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Several brokerages have issued reports on MTCH. Vetr cut shares of Match Group from a “buy” rating to a “hold” rating and set a $20.78 price objective on the stock. in a research note on Tuesday, May 30th. Jefferies Group LLC boosted their target price on shares of Match Group from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Aegis boosted their target price on shares of Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Match Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $20.62.
In related news, insider Amarnath Thombre sold 116,126 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $19.63, for a total value of $2,279,553.38. Following the completion of the transaction, the insider now owns 50,000 shares in the company, valued at approximately $981,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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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