Turner Investments LLC reduced its position in shares of Match Group Inc (NASDAQ:MTCH) by 59.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,000 shares of the company’s stock after selling 52,000 shares during the period. Turner Investments LLC’s holdings in Match Group were worth $599,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MTCH. PNC Financial Services Group Inc. increased its position in Match Group by 12.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,048 shares of the company’s stock worth $125,000 after buying an additional 800 shares in the last quarter. Quadrature Capital Ltd bought a new position in Match Group during the third quarter worth $205,000. Cipher Capital LP acquired a new stake in Match Group during the fourth quarter worth about $210,000. Meeder Asset Management Inc. acquired a new stake in Match Group during the third quarter worth about $224,000. Finally, Pacer Advisors Inc. boosted its stake in Match Group by 10.3% in the third quarter. Pacer Advisors Inc. now owns 17,928 shares of the company’s stock worth $319,000 after buying an additional 1,681 shares during the last quarter. Hedge funds and other institutional investors own 16.72% of the company’s stock.
Shares of Match Group Inc (NASDAQ:MTCH) traded down 2.18% during trading on Friday, reaching $17.51. The company’s stock had a trading volume of 692,441 shares. The stock has a 50-day moving average of $17.72 and a 200-day moving average of $17.17. Match Group Inc has a 52-week low of $9.85 and a 52-week high of $19.74. The stock has a market cap of $4.48 billion, a P/E ratio of 27.36 and a beta of 0.86.
Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, January 31st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The company earned $319.70 million during the quarter, compared to analyst estimates of $320.62 million. Match Group had a return on equity of 47.04% and a net margin of 14.02%. Match Group’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Analysts predict that Match Group Inc will post $0.88 earnings per share for the current fiscal year.
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A number of research firms have recently issued reports on MTCH. Deutsche Bank AG reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Match Group in a research report on Friday, October 21st. Guggenheim cut Match Group from a “buy” rating to a “neutral” rating in a research report on Friday, January 20th. Aegis reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Match Group in a research report on Tuesday, January 10th. Vetr cut Match Group from a “strong-buy” rating to a “buy” rating and set a $20.42 price objective for the company. in a research report on Tuesday, January 10th. Finally, Zacks Investment Research cut Match Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Match Group currently has an average rating of “Buy” and an average price target of $17.80.
In other news, Vice Chairman Sam Yagan sold 790,927 shares of the company’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $18.03, for a total value of $14,260,413.81. Following the completion of the transaction, the insider now directly owns 790,927 shares of the company’s stock, valued at $14,260,413.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 1,000,000 shares of company stock valued at $18,021,336. 19.90% of the stock is currently owned by corporate insiders.
About Match Group
Match Group, Inc is a provider of dating products. The Company operates in two segments: Dating and Non-dating. Its Dating segment provides dating products and the Company’s Non-dating segment provides various education services, including test preparation, academic tutoring and college counseling services.
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