Nykredit A S purchased a new position in Match Group Inc. (NASDAQ:MTCH – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,817 shares of the technology company’s stock, valued at approximately $488,000.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Match Group in the 2nd quarter worth approximately $1,087,055,000. AQR Capital Management LLC boosted its holdings in shares of Match Group by 1,163.7% during the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after buying an additional 5,652,174 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in Match Group in the 2nd quarter worth $154,811,000. Norges Bank bought a new position in Match Group in the 4th quarter worth $112,641,000. Finally, Bank of New York Mellon Corp bought a new position in Match Group in the 2nd quarter worth $100,796,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
Insider Activity
In other news, CAO Philip D. Eigenmann sold 15,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $41.70, for a total value of $625,500.00. Following the completion of the sale, the chief accounting officer directly owned 19,389 shares in the company, valued at approximately $808,521.30. This trade represents a 43.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen Bailey sold 4,760 shares of Match Group stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the transaction, the director directly owned 11,742 shares of the company’s stock, valued at $496,216.92. This represents a 28.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,291 shares of company stock worth $976,478 in the last quarter. 0.71% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on Match Group
Match Group Stock Down 1.7%
NASDAQ:MTCH opened at $41.15 on Wednesday. The firm has a market capitalization of $9.45 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.61 and a beta of 1.32. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $43.47. The firm has a 50-day moving average price of $39.36 and a 200 day moving average price of $35.83.
Match Group (NASDAQ:MTCH – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $853.11 million for the quarter, compared to the consensus estimate of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share. On average, research analysts expect that Match Group Inc. will post 3.31 EPS for the current year.
Match Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.9%. Match Group’s dividend payout ratio (DPR) 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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