Edmond DE Rothschild Holding S.A. acquired a new position in Match Group Inc. (NASDAQ:MTCH – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund acquired 4,068,609 shares of the technology company’s stock, valued at approximately $154,811,000. Match Group accounts for approximately 2.0% of Edmond DE Rothschild Holding S.A.’s holdings, making the stock its 11th biggest position.
A number of other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc increased its position in shares of Match Group by 1.9% during the second quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company’s stock worth $588,000 after purchasing an additional 289 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock valued at $317,000 after buying an additional 311 shares during the period. Bollard Group LLC lifted its position in Match Group by 0.6% in the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock valued at $1,625,000 after buying an additional 322 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after buying an additional 326 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their target price on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Citigroup boosted their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Match Group in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.54.
Insider Buying and Selling at Match Group
In other Match Group news, Director Glenn Schiffman purchased 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was bought at an average cost of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director owned 56,370 shares of the company’s stock, valued at $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.
Match Group Price Performance
MTCH stock opened at $39.70 on Thursday. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.57 and a beta of 1.30. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $41.40. The firm has a fifty day moving average price of $37.78 and a two-hundred day moving average price of $34.77.
Match Group (NASDAQ:MTCH – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. As a group, analysts expect that Match Group Inc. will post 3.31 EPS for the current fiscal year.
Match Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a yield of 2.0%. Match Group’s payout ratio is presently 28.27%.
Match Group Company Profile
Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.
Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.
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