Royal Bank of Canada cut its position in Match Group, Inc. (NASDAQ:MTCH) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417,147 shares of the technology company’s stock after selling 11,028 shares during the period. Royal Bank of Canada owned 0.80% of Match Group worth $7,251,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in MTCH. Fox Run Management L.L.C. purchased a new position in shares of Match Group in the 2nd quarter worth approximately $176,000. UBS Asset Management Americas Inc. purchased a new position in shares of Match Group in the 1st quarter worth approximately $181,000. Cipher Capital LP purchased a new position in shares of Match Group in the 2nd quarter worth approximately $209,000. Private Advisor Group LLC raised its holdings in shares of Match Group by 17.3% in the 2nd quarter. Private Advisor Group LLC now owns 12,389 shares of the technology company’s stock worth $222,000 after purchasing an additional 1,828 shares during the period. Finally, Advisor Group Inc. raised its holdings in shares of Match Group by 6.3% in the 2nd quarter. Advisor Group Inc. now owns 13,699 shares of the technology company’s stock worth $238,000 after purchasing an additional 814 shares during the period. Institutional investors and hedge funds own 19.72% of the company’s stock.
Match Group, Inc. (NASDAQ:MTCH) traded up 3.17% during mid-day trading on Friday, reaching $26.01. 1,720,569 shares of the company’s stock traded hands. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 37.00 and a beta of 0.56. The firm’s 50-day moving average price is $24.36 and its 200 day moving average price is $20.14. Match Group, Inc. has a one year low of $15.08 and a one year high of $26.28.
Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Match Group had a return on equity of 34.49% and a net margin of 16.21%. The company had revenue of $309.57 million for the quarter, compared to analyst estimates of $310.36 million. During the same period in the previous year, the business posted $0.17 EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that Match Group, Inc. will post $0.80 EPS for the current year.
MTCH has been the topic of a number of research reports. Jefferies Group LLC upped their price target on shares of Match Group from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research raised shares of Match Group from a “strong sell” rating to a “hold” rating and set a $28.00 price target on the stock in a report on Wednesday, October 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $28.00 price target (up previously from $25.00) on shares of Match Group in a report on Wednesday, October 4th. BidaskClub lowered shares of Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, UBS AG upped their target price on shares of Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. Match Group currently has an average rating of “Buy” and a consensus price target of $26.46.
In related news, General Counsel Jared F. Sine sold 64,436 shares of Match Group stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total value of $1,318,360.56. Following the transaction, the general counsel now directly owns 64,436 shares in the company, valued at approximately $1,318,360.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Sam Yagan sold 684,583 shares of Match Group stock in a transaction on Friday, September 1st. The shares were sold at an average price of $21.95, for a total transaction of $15,026,596.85. Following the completion of the transaction, the insider now owns 464,963 shares in the company, valued at $10,205,937.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 902,498 shares of company stock worth $19,287,878. 18.10% of the stock is owned by corporate insiders.
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About Match Group
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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