Bessemer Group Inc. Sells 1,202,488 Shares of Match Group, Inc. (NASDAQ:MTCH)

Posted by Defense World Staff on Jun 12th, 2023

Bessemer Group Inc. cut its holdings in shares of Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 98.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,017 shares of the technology company’s stock after selling 1,202,488 shares during the period. Bessemer Group Inc.’s holdings in Match Group were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Utah Retirement Systems lifted its holdings in shares of Match Group by 0.4% in the third quarter. Utah Retirement Systems now owns 51,005 shares of the technology company’s stock valued at $2,436,000 after purchasing an additional 200 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Match Group by 3.9% in the fourth quarter. Park Avenue Securities LLC now owns 5,563 shares of the technology company’s stock valued at $231,000 after purchasing an additional 209 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Match Group by 5.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,080 shares of the technology company’s stock valued at $211,000 after purchasing an additional 271 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Match Group by 2.6% in the third quarter. Intech Investment Management LLC now owns 10,701 shares of the technology company’s stock valued at $511,000 after purchasing an additional 276 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of Match Group by 4.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 6,936 shares of the technology company’s stock valued at $754,000 after purchasing an additional 280 shares in the last quarter. 93.53% of the stock is currently owned by institutional investors.

Match Group Stock Up 0.5 %

Shares of Match Group stock traded up $0.21 on Monday, hitting $41.80. The stock had a trading volume of 1,945,692 shares, compared to its average volume of 4,642,265. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 0.84 and a beta of 1.34. Match Group, Inc. has a twelve month low of $30.73 and a twelve month high of $79.37. The business’s 50 day moving average is $34.95 and its two-hundred day moving average is $40.59.

Match Group (NASDAQ:MTCH – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $787.12 million for the quarter, compared to the consensus estimate of $794.06 million. Match Group had a negative return on equity of 116.87% and a net margin of 9.51%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities analysts predict that Match Group, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bernard Jin Kim purchased 31,439 shares of Match Group stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average price of $34.44 per share, with a total value of $1,082,759.16. Following the completion of the transaction, the chief executive officer now directly owns 48,500 shares of the company’s stock, valued at approximately $1,670,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Susquehanna cut their price target on Match Group from $70.00 to $48.00 in a report on Thursday, May 4th. KeyCorp dropped their target price on Match Group from $75.00 to $60.00 in a report on Monday, May 1st. Morgan Stanley upped their target price on Match Group from $90.00 to $95.00 in a report on Monday, March 20th. Loop Capital dropped their target price on Match Group from $50.00 to $35.00 in a report on Thursday, May 4th. Finally, Barclays dropped their target price on Match Group from $52.00 to $50.00 in a report on Thursday, May 4th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Match Group has an average rating of “Moderate Buy” and an average target price of $59.14.

Match Group Company Profile

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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.