AGF Management Ltd. purchased a new stake in Match Group, Inc. (NASDAQ:MTCH – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,542 shares of the technology company’s stock, valued at approximately $290,000.
A number of other large investors have also made changes to their positions in MTCH. Glassman Wealth Services increased its holdings in shares of Match Group by 89.1% in the 4th quarter. Glassman Wealth Services now owns 851 shares of the technology company’s stock valued at $35,000 after purchasing an additional 401 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Match Group by 359.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,057 shares of the technology company’s stock valued at $44,000 after acquiring an additional 827 shares in the last quarter. CI Investments Inc. increased its holdings in Match Group by 83.5% during the 4th quarter. CI Investments Inc. now owns 1,059 shares of the technology company’s stock valued at $44,000 after acquiring an additional 482 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Match Group during the 4th quarter valued at about $50,000. Finally, Money Concepts Capital Corp increased its holdings in Match Group by 27.0% during the 4th quarter. Money Concepts Capital Corp now owns 1,209 shares of the technology company’s stock valued at $50,000 after acquiring an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.
Insider Activity
In other Match Group news, CEO Bernard Jin Kim bought 31,439 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were bought at an average price of $34.44 per share, for a total transaction of $1,082,759.16. Following the acquisition, the chief executive officer now directly owns 48,500 shares of the company’s stock, valued at $1,670,340. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.
Match Group Stock Down 0.8 %
Match Group (NASDAQ:MTCH – Get Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $787.12 million during the quarter, compared to the consensus estimate of $794.06 million. Match Group had a net margin of 9.51% and a negative return on equity of 116.87%. Match Group’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. Equities analysts anticipate that Match Group, Inc. will post 2 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Match Group from $65.00 to $58.00 and set a “buy” rating for the company in a report on Friday, April 21st. Robert W. Baird started coverage on shares of Match Group in a report on Tuesday, April 11th. They set an “outperform” rating and a $50.00 price target for the company. StockNews.com started coverage on shares of Match Group in a report on Thursday, May 18th. They set a “hold” rating for the company. Susquehanna lowered their price target on shares of Match Group from $70.00 to $48.00 in a report on Thursday, May 4th. Finally, KeyCorp decreased their target price on shares of Match Group from $75.00 to $60.00 in a research report on Monday, May 1st. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Match Group has an average rating of “Moderate Buy” and an average price target of $60.77.
Match Group Profile
Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, The League, Azar, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and Hakuna, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.
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