Cypress Capital LLC lowered its holdings in Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 18.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,260 shares of the technology company’s stock after selling 2,688 shares during the period. Cypress Capital LLC’s holdings in Match Group were worth $1,333,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MTCH. MUFG Americas Holdings Corp purchased a new position in Match Group in the fourth quarter worth approximately $25,000. Tyler Stone Wealth Management purchased a new position in Match Group in the fourth quarter worth approximately $27,000. Tsfg LLC lifted its stake in Match Group by 181.1% in the first quarter. Tsfg LLC now owns 253 shares of the technology company’s stock worth $28,000 after acquiring an additional 163 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in Match Group in the first quarter worth approximately $28,000. Finally, Prospera Financial Services Inc purchased a new position in Match Group in the first quarter worth approximately $29,000. Institutional investors and hedge funds own 96.11% of the company’s stock.
Insider Transactions at Match Group
In related news, CEO Bernard Jin Kim purchased 16,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were acquired at an average cost of $63.58 per share, with a total value of $1,017,280.00. Following the purchase, the chief executive officer now directly owns 16,000 shares in the company, valued at approximately $1,017,280. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Match Group Stock Up 1.9 %
Match Group (NASDAQ:MTCH – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Match Group had a net margin of 3.48% and a negative return on equity of 164.13%. The business had revenue of $798.63 million for the quarter, compared to analysts’ expectations of $795.03 million. During the same period in the prior year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. Equities analysts anticipate that Match Group, Inc. will post 2.63 earnings per share for the current year.
Analysts Set New Price Targets
MTCH has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Match Group from $125.00 to $105.00 in a research note on Tuesday, July 19th. Barclays reduced their price objective on shares of Match Group from $81.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 19th. Truist Financial downgraded shares of Match Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $145.00 to $68.00 in a research report on Wednesday. Susquehanna reduced their price objective on shares of Match Group from $100.00 to $85.00 and set a “positive” rating for the company in a research report on Thursday. Finally, Evercore ISI reduced their price objective on shares of Match Group from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.86.
Match Group Profile
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.
- Get a free copy of the StockNews.com research report on Match Group (MTCH)
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