Vanguard Group Inc. increased its stake in shares of Match Group by 47.1% in the first quarter. (NASDAQ:MTCH) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). Davidson Kempner Capital Management LP now owns 350,000 shares of the technology company's stock valued at $5,985,000 after buying an additional 50,000 shares during the period.
Other large investors have also recently bought and sold shares of the company. Alkeon Capital Management LLC bought a new stake in shares of Match Group during the fourth quarter valued at $17,060,000. Clinton Group Inc. raised its position in Match Group by 23.8% in the first quarter. RPG Investment Advisory LLC now owns 21,888 shares of the technology company's stock valued at $356,000 after buying an additional 1,275 shares during the last quarter. Macquarie Group Ltd. acquired a new position in Match Group during the fourth quarter worth approximately $1,510,000. Pacer Advisors Inc. increased its position in Match Group by 19.0% in the first quarter.
Hedge funds have recently added to or reduced their stakes in the company. Over the short term, some market observers may have noticed that Match Group, Inc. has a 26.62% short float with 15 days to cover. (MTCH) traded up 0.80% during mid-day trading on Tuesday, hitting $17.67. (MTCH). These ratios are important while doing valuation of the company or the shares of the company. The company has a market cap of $4.57 billion, a P/E ratio of 26.45 and a beta of 0.57.
Match Group Inc CS (NASDAQ:MTCH) 52-week high price stands at $20.75 and low price stands at $13.55, its price distance from 52-week high is -15.5% while its distance from 52-week low price is 29.37%. The technology company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by $0.01. Match Group had a net margin of 14.91% and a return on equity of 39.71%. The firm had revenue of $298.76 million for the quarter, compared to the consensus estimate of $314.94 million. On average, equities analysts forecast that Match Group, Inc. will post $0.88 earnings per share for the current year. Has $87.48 Million Stake in Match Group, Inc. "(MTCH) Receives Average Rating of "Buy" from Brokerages" was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another site, it was illegally stolen and reposted in violation of worldwide copyright and trademark law. The original version of this piece can be read at https://www.themarketsdaily.com/2017/06/12/match-group-inc-mtch-stake-cut-by-globeflex-capital-l-p.html.
MTCH has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Match Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 23rd. Jefferies Group LLC boosted their price objective on shares of Match Group from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, May 15th. Aegis boosted their price objective on shares of Match Group from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, May 5th. Cowen and Company reaffirmed an "outperform" rating and set a $22.00 target price on shares of Match Group in a report on Monday, April 24th. Analysts believe that we could see stock price minimum in the $42 range (lowest target price), allowing for another -4% drop from its current position.
In related news, insider Amarnath Thombre sold 116,126 shares of Match Group stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $19.63, for a total transaction of $2,279,553.38. Following the completion of the sale, the insider now owns 50,000 shares of the company's stock, valued at approximately $981,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
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 created to manage its users' likelihood of finding a romantic connection.