Penn Capital Management Co. Inc. reduced its stake in Match Group Inc (NASDAQ:MTCH) by 26.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 57,304 shares of the technology company’s stock after selling 20,514 shares during the period. Penn Capital Management Co. Inc.’s holdings in Match Group were worth $1,794,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado lifted its stake in shares of Match Group by 211.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,584 shares of the technology company’s stock worth $112,000 after acquiring an additional 2,434 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Match Group by 2,627.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,737 shares of the technology company’s stock worth $117,000 after acquiring an additional 3,600 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Match Group by 499.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after acquiring an additional 5,333 shares during the period. Parametrica Management Ltd acquired a new position in shares of Match Group in the fourth quarter worth approximately $209,000. Finally, IFP Advisors Inc increased its holdings in Match Group by 61.7% in the fourth quarter. IFP Advisors Inc now owns 6,912 shares of the technology company’s stock worth $216,000 after purchasing an additional 2,638 shares in the last quarter. 21.35% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on MTCH. BMO Capital Markets lifted their target price on Match Group from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Zacks Investment Research downgraded Match Group from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. Citigroup lifted their target price on Match Group from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Aegis reiterated a “buy” rating and issued a $45.00 target price (up from $42.00) on shares of Match Group in a report on Friday. Finally, UBS Group downgraded Match Group from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $28.00 to $35.00 in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $36.51.
In other news, President Sharmistha Dubey sold 141,149 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $37.99, for a total transaction of $5,362,250.51. Following the completion of the sale, the president now owns 78,650 shares in the company, valued at $2,987,913.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ann Mcdaniel sold 11,119 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $30.62, for a total value of $340,463.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,310 shares of company stock valued at $9,825,116. Corporate insiders own 18.10% of the company’s stock.
Shares of Match Group Inc (MTCH) opened at $41.56 on Tuesday. The company has a market capitalization of $11,351.99, a P/E ratio of 34.92, a PEG ratio of 2.86 and a beta of 0.91. Match Group Inc has a 1-year low of $15.42 and a 1-year high of $42.67. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.40.
Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). The firm had revenue of $379.00 million for the quarter, compared to the consensus estimate of $362.86 million. Match Group had a net margin of 26.31% and a return on equity of 30.34%. The company’s revenue was up 28.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. sell-side analysts expect that Match Group Inc will post 0.91 EPS for the current year.
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Match Group Profile
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.
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