Fox Run Management L.L.C. acquired a new stake in Match Group, Inc. (NASDAQ:MTCH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,100 shares of the technology company’s stock, valued at approximately $176,000.
Other hedge funds have also recently modified their holdings of the company. UBS Oconnor LLC bought a new stake in Match Group during the first quarter valued at $9,743,000. Lucha Capital Management LP acquired a new stake in Match Group during the first quarter worth $9,059,000. Jane Street Group LLC acquired a new stake in Match Group during the first quarter worth $682,000. Tenzing Global Management LLC acquired a new stake in Match Group during the first quarter worth $2,041,000. Finally, Paloma Partners Management Co acquired a new stake in Match Group during the first quarter worth $868,000. 20.89% of the stock is currently owned by institutional investors and hedge funds.
Match Group, Inc. (MTCH) opened at 18.76 on Friday. Match Group, Inc. has a 1-year low of $14.32 and a 1-year high of $20.75. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 26.69 and a beta of 0.64. The firm’s 50-day moving average price is $18.23 and its 200-day moving average price is $17.83.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.03. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The business had revenue of $309.57 million for the quarter, compared to analyst estimates of $310.36 million. During the same quarter last year, the business earned $0.17 EPS. Match Group’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that Match Group, Inc. will post $0.88 earnings per share for the current year.
Match Group declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 2nd that permits the company to repurchase 6,000,000 outstanding shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of analysts have weighed in on the company. Vetr upgraded Match Group from a “buy” rating to a “strong-buy” rating and set a $21.09 target price on the stock in a research note on Wednesday, May 17th. Zacks Investment Research downgraded Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Aegis raised their price objective on Match Group from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 5th. BidaskClub cut Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Jefferies Group LLC raised their price objective on Match Group from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. Match Group currently has a consensus rating of “Buy” and an average price target of $20.62.
In other news, insider Amarnath Thombre sold 116,126 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $19.63, for a total transaction of $2,279,553.38. Following the sale, the insider now owns 50,000 shares in the company, valued at $981,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.10% of the stock is owned by company insiders.
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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