Penn Capital Management Company LLC Buys 2,023 Shares of Match Group, Inc. (NASDAQ:MTCH)

Posted by Defense World Staff on Mar 17th, 2023

Penn Capital Management Company LLC grew its stake in shares of Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 65.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,136 shares of the technology company’s stock after purchasing an additional 2,023 shares during the period. Penn Capital Management Company LLC’s holdings in Match Group were worth $245,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in Match Group by 73.8% during the first quarter. Acadian Asset Management LLC now owns 2,082 shares of the technology company’s stock worth $224,000 after acquiring an additional 884 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Match Group by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 840,248 shares of the technology company’s stock worth $91,374,000 after acquiring an additional 26,902 shares in the last quarter. Aviva PLC boosted its stake in Match Group by 4.0% during the first quarter. Aviva PLC now owns 90,746 shares of the technology company’s stock worth $9,868,000 after acquiring an additional 3,455 shares in the last quarter. Prudential PLC bought a new stake in Match Group during the first quarter worth about $279,000. Finally, Vanguard Group Inc. boosted its stake in Match Group by 1.7% during the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock worth $3,170,951,000 after acquiring an additional 500,418 shares in the last quarter. Institutional investors own 93.53% of the company’s stock.

Match Group Price Performance

MTCH opened at $36.62 on Friday. The firm has a market cap of $10.23 billion, a P/E ratio of 29.77, a PEG ratio of 0.64 and a beta of 1.34. Match Group, Inc. has a 1-year low of $34.62 and a 1-year high of $114.36. The company has a 50 day simple moving average of $44.84 and a two-hundred day simple moving average of $46.53.

Match Group (NASDAQ:MTCH – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The technology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.17). The firm had revenue of $786.15 million during the quarter, compared to the consensus estimate of $787.34 million. Match Group had a negative return on equity of 146.76% and a net margin of 11.35%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.60) earnings per share. Equities analysts anticipate that Match Group, Inc. will post 2.1 earnings per share for the current year.

Insiders Place Their Bets

In other Match Group news, insider Jared F. Sine sold 7,110 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $41.27, for a total value of $293,429.70. Following the completion of the transaction, the insider now directly owns 60,379 shares in the company, valued at $2,491,841.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MTCH. UBS Group began coverage on shares of Match Group in a report on Thursday, December 8th. They issued a “neutral” rating and a $46.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Match Group from $65.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, February 2nd. Needham & Company LLC began coverage on shares of Match Group in a report on Tuesday, January 3rd. They issued a “buy” rating for the company. Citigroup decreased their target price on shares of Match Group from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 2nd. Finally, New Street Research began coverage on shares of Match Group in a report on Wednesday, January 4th. They issued a “buy” rating and a $54.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Match Group has an average rating of “Moderate Buy” and an average price target of $72.13.

Match Group Profile

(Get Rating)

Match Group, Inc engages in the provision of dating products. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.