Van ECK Associates Corp Makes New $158,000 Investment in Match Group, Inc. (NASDAQ:MTCH)

Posted by Defense World Staff on Aug 9th, 2023

Van ECK Associates Corp purchased a new position in shares of Match Group, Inc. (NASDAQ:MTCH – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,114 shares of the technology company’s stock, valued at approximately $158,000.

Other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC raised its holdings in Match Group by 3.9% in the fourth quarter. Park Avenue Securities LLC now owns 5,563 shares of the technology company’s stock worth $231,000 after purchasing an additional 209 shares during the period. Granahan Investment Management LLC raised its holdings in shares of Match Group by 0.4% during the fourth quarter. Granahan Investment Management LLC now owns 64,378 shares of the technology company’s stock worth $2,671,000 after acquiring an additional 248 shares during the period. Money Concepts Capital Corp raised its holdings in shares of Match Group by 27.0% during the fourth quarter. Money Concepts Capital Corp now owns 1,209 shares of the technology company’s stock worth $50,000 after acquiring an additional 257 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Match Group by 5.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,080 shares of the technology company’s stock worth $211,000 after acquiring an additional 271 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of Match Group by 4.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 6,936 shares of the technology company’s stock worth $754,000 after acquiring an additional 280 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity at Match Group

In related news, CEO Bernard Jin Kim purchased 31,439 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average cost of $34.44 per share, with a total value of $1,082,759.16. Following the acquisition, the chief executive officer now owns 48,500 shares of the company’s stock, valued at approximately $1,670,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 1,500 shares of company stock valued at $61,445. 0.72% of the stock is owned by insiders.

Match Group Stock Up 3.1 %

Shares of Match Group stock opened at $44.79 on Wednesday. Match Group, Inc. has a twelve month low of $30.73 and a twelve month high of $69.99. The company has a 50-day simple moving average of $43.14 and a two-hundred day simple moving average of $40.53. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 0.78 and a beta of 1.41.

Match Group (NASDAQ:MTCH – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $830.00 million for the quarter, compared to analyst estimates of $811.55 million. Match Group had a net margin of 14.68% and a negative return on equity of 121.94%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. On average, sell-side analysts anticipate that Match Group, Inc. will post 2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MTCH has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of Match Group from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Citigroup decreased their target price on shares of Match Group from $40.00 to $38.00 in a research report on Thursday, May 4th. Truist Financial raised their target price on shares of Match Group from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Stifel Nicolaus raised their target price on shares of Match Group from $37.00 to $44.00 in a research report on Thursday, August 3rd. Finally, BTIG Research raised shares of Match Group from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Wednesday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Match Group currently has an average rating of “Moderate Buy” and an average price target of $58.77.

Read Our Latest Research Report on Match Group

About Match Group

(Free Report)

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.