Tocqueville Asset Management L.P. trimmed its position in shares of Match Group Inc (NASDAQ:MTCH) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,295 shares of the technology company’s stock after selling 500 shares during the period. Tocqueville Asset Management L.P.’s holdings in Match Group were worth $243,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Match Group by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 514,390 shares of the technology company’s stock valued at $29,788,000 after buying an additional 19,651 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Match Group by 27.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 267,519 shares of the technology company’s stock valued at $15,495,000 after buying an additional 57,589 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Match Group in the 3rd quarter valued at about $956,000. Scout Investments Inc. increased its stake in shares of Match Group by 2.3% in the 4th quarter. Scout Investments Inc. now owns 261,171 shares of the technology company’s stock valued at $11,170,000 after purchasing an additional 5,792 shares in the last quarter. Finally, TrimTabs Asset Management LLC purchased a new position in shares of Match Group in the 4th quarter valued at about $1,477,000. 20.85% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the company. ValuEngine upgraded Match Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Match Group from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Thursday, January 24th. BidaskClub cut Match Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 28th. Barclays lifted their price objective on Match Group from $56.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, SunTrust Banks lifted their price objective on Match Group to $62.00 and gave the stock a “hold” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $60.26.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.17. The company had revenue of $464.60 million for the quarter, compared to analysts’ expectations of $463.69 million. Match Group had a return on equity of 83.21% and a net margin of 27.48%. Match Group’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. As a group, analysts expect that Match Group Inc will post 1.41 earnings per share for the current year.
In other news, General Counsel Jared F. Sine sold 13,764 shares of Match Group stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $57.76, for a total transaction of $795,008.64. Following the sale, the general counsel now owns 28,789 shares of the company’s stock, valued at approximately $1,662,852.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Sharmistha Dubey sold 121,964 shares of Match Group stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $57.64, for a total transaction of $7,030,004.96. Following the sale, the president now directly owns 83,591 shares in the company, valued at approximately $4,818,185.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 345,705 shares of company stock worth $19,966,091. Corporate insiders own 7.00% of the company’s stock.
Match Group Profile
Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.
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