Spectrum Management Group Inc. Invests $481,000 in Match Group Inc (MTCH) Stock

Spectrum Management Group Inc. bought a new stake in Match Group Inc (NASDAQ:MTCH) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,305 shares of the technology company’s stock, valued at approximately $481,000.

Other large investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in Match Group in the 2nd quarter valued at about $111,000. Valeo Financial Advisors LLC acquired a new position in Match Group in the 2nd quarter valued at about $150,000. HighPoint Advisor Group LLC acquired a new position in Match Group in the 3rd quarter valued at about $189,000. Financial Architects Inc boosted its holdings in Match Group by 410.3% in the 2nd quarter. Financial Architects Inc now owns 3,649 shares of the technology company’s stock valued at $141,000 after purchasing an additional 2,934 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Match Group by 48.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,067 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,336 shares during the last quarter. Institutional investors own 22.21% of the company’s stock.

In related news, CFO Gary Swidler sold 105,611 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $49.57, for a total transaction of $5,235,137.27. Following the sale, the chief financial officer now directly owns 266,010 shares of the company’s stock, valued at approximately $13,186,115.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanda Ginsberg sold 106,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $49.37, for a total transaction of $5,275,184.50. Following the sale, the chief executive officer now directly owns 62,682 shares in the company, valued at $3,094,610.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,000 shares of company stock worth $12,382,872. 7.00% of the stock is owned by insiders.



Several equities analysts have recently commented on MTCH shares. ValuEngine upgraded shares of Match Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. BidaskClub lowered shares of Match Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. UBS Group upped their price objective on shares of Match Group from $52.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Wells Fargo & Co upped their price objective on shares of Match Group from $41.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, August 9th. Finally, Deutsche Bank upped their price objective on shares of Match Group from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 17th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $49.69.

Shares of MTCH stock traded up $2.11 during trading hours on Tuesday, hitting $50.36. The company had a trading volume of 53,981 shares, compared to its average volume of 2,110,106. Match Group Inc has a fifty-two week low of $25.75 and a fifty-two week high of $60.95. The firm has a market cap of $13.62 billion, a P/E ratio of 97.98, a P/E/G ratio of 3.17 and a beta of 0.35. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.54 and a current ratio of 1.54.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.10. Match Group had a net margin of 32.94% and a return on equity of 53.18%. The firm had revenue of $421.20 million for the quarter, compared to the consensus estimate of $413.07 million. As a group, research analysts predict that Match Group Inc will post 1.24 EPS for the current fiscal year.

Match Group Profile

Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.

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

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