First Heartland Consultants Inc. Buys New Position in Match Group, Inc. (NASDAQ:MTCH)

First Heartland Consultants Inc. bought a new stake in Match Group, Inc. (NASDAQ:MTCH) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,808 shares of the technology company’s stock, valued at approximately $248,000.

Other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Company LLC acquired a new stake in Match Group in the 1st quarter valued at approximately $25,000. Childress Capital Advisors LLC acquired a new position in shares of Match Group during the 4th quarter worth approximately $27,000. Berman Capital Advisors LLC increased its position in shares of Match Group by 45.2% during the 4th quarter. Berman Capital Advisors LLC now owns 289 shares of the technology company’s stock worth $42,000 after purchasing an additional 90 shares during the last quarter. Tacita Capital Inc acquired a new position in shares of Match Group during the 4th quarter worth approximately $46,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Match Group by 25.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 366 shares of the technology company’s stock worth $50,000 after purchasing an additional 74 shares during the last quarter. 96.08% of the stock is currently owned by institutional investors and hedge funds.

MTCH opened at $159.70 on Thursday. The firm has a fifty day moving average price of $150.80. The company has a market cap of $43.16 billion, a P/E ratio of 76.50, a PEG ratio of 6.86 and a beta of 1.13. Match Group, Inc. has a 1 year low of $87.56 and a 1 year high of $174.68.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, May 4th. The technology company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.18. The firm had revenue of $667.61 million during the quarter, compared to the consensus estimate of $650.74 million. Match Group had a negative return on equity of 39.56% and a net margin of 20.44%. The company’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. As a group, sell-side analysts forecast that Match Group, Inc. will post 2.11 EPS for the current fiscal year.

In other news, Director Joseph Levin sold 5,025 shares of the company’s stock in a transaction on Wednesday, July 14th. The stock was sold at an average price of $165.63, for a total transaction of $832,290.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Philip D. Eigenmann sold 10,861 shares of the company’s stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $146.21, for a total value of $1,587,986.81. Following the sale, the chief accounting officer now owns 10,861 shares of the company’s stock, valued at $1,587,986.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,386 shares of company stock valued at $2,767,328. Corporate insiders own 1.30% of the company’s stock.

Several research analysts have weighed in on the company. Truist boosted their price target on Match Group from $160.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp boosted their price target on Match Group from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 6th. They noted that the move was a valuation call. Royal Bank of Canada assumed coverage on Match Group in a research report on Friday, July 9th. They set an “outperform” rating and a $190.00 price target on the stock. Morgan Stanley assumed coverage on Match Group in a research note on Friday, June 18th. They set an “overweight” rating and a $180.00 target price for the company. Finally, BTIG Research upgraded Match Group from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Monday, April 12th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $163.32.

About Match Group

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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