Oppenheimer Asset Management Inc. acquired a new stake in Match Group Inc (NASDAQ:MTCH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,099 shares of the technology company’s stock, valued at approximately $237,000.
Other hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new stake in Match Group in the 2nd quarter valued at about $111,000. Financial Architects Inc raised its holdings in Match Group by 410.3% in the 2nd quarter. Financial Architects Inc now owns 3,649 shares of the technology company’s stock valued at $141,000 after acquiring an additional 2,934 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in Match Group in the 2nd quarter valued at about $150,000. Metropolitan Life Insurance Co. NY raised its holdings in Match Group by 48.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,067 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,336 shares during the last quarter. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Match Group during the 3rd quarter worth approximately $189,000. Institutional investors own 21.68% of the company’s stock.
NASDAQ:MTCH opened at $42.71 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market cap of $11.83 billion, a P/E ratio of 35.90, a P/E/G ratio of 2.76 and a beta of 0.74. Match Group Inc has a fifty-two week low of $27.59 and a fifty-two week high of $60.95.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. The firm had revenue of $444.00 million during the quarter, compared to analysts’ expectations of $438.03 million. Match Group had a net margin of 21.24% and a return on equity of 64.07%. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. As a group, equities analysts forecast that Match Group Inc will post 1.26 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, December 4th.
A number of analysts have recently issued reports on MTCH shares. Jefferies Financial Group raised their price target on shares of Match Group from $55.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Aegis raised their price target on shares of Match Group from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, September 12th. Nomura started coverage on shares of Match Group in a report on Thursday, October 11th. They set a “buy” rating and a $66.00 price target for the company. UBS Group raised their price target on shares of Match Group from $52.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Finally, BidaskClub upgraded shares of Match Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Match Group has an average rating of “Buy” and an average price target of $49.82.
In related news, General Counsel Jared F. Sine sold 27,343 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $48.51, for a total transaction of $1,326,408.93. Following the completion of the transaction, the general counsel now owns 65,022 shares of the company’s stock, valued at approximately $3,154,217.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanda Ginsberg sold 106,850 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $49.37, for a total transaction of $5,275,184.50. Following the transaction, the chief executive officer now directly owns 62,682 shares of the company’s stock, valued at approximately $3,094,610.34. The disclosure for this sale can be found here. Insiders have sold a total of 251,000 shares of company stock valued at $12,382,872 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.
Match Group Company Profile
Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.
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