Match Group Inc. $MTCH Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Match Group Inc. (NASDAQ:MTCH) by 124.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,600 shares of the technology company’s stock after purchasing an additional 62,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Match Group were worth $4,521,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Match Group during the second quarter worth $1,087,055,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Match Group in the 2nd quarter valued at $154,811,000. Bank of New York Mellon Corp bought a new stake in shares of Match Group in the 2nd quarter valued at $100,796,000. Renaissance Technologies LLC increased its position in shares of Match Group by 196.6% in the 1st quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock valued at $98,099,000 after buying an additional 2,117,414 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Match Group by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,183,576 shares of the technology company’s stock worth $97,761,000 after buying an additional 92,364 shares during the period. Institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Match Group stock opened at $41.41 on Monday. The stock has a market capitalization of $9.51 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.62 and a beta of 1.43. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $46.67. The company has a 50 day moving average of $42.25 and a 200-day moving average of $36.49.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings upgraded Match Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. TD Cowen boosted their target price on Match Group from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Wells Fargo & Company lowered their price target on Match Group from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, October 28th. Evercore raised Match Group from a “cautious” rating to an “outperform” rating and set a $53.00 price target on the stock in a research report on Monday, October 19th. Finally, Zacks Research lowered Match Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Match Group has a consensus rating of “Moderate Buy” and an average price target of $44.23.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 4,760 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the transaction, the director directly owned 11,742 shares of the company’s stock, valued at approximately $496,216.92. This represents a 28.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Philip Eigenmann sold 15,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $41.70, for a total value of $625,500.00. Following the transaction, the chief accounting officer owned 19,389 shares of the company’s stock, valued at approximately $808,521.30. This trade represents a 43.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,291 shares of company stock valued at $976,478 in the last quarter. 0.71% of the stock is currently owned by company insiders.

Match Group Company Profile

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.