Voloridge Investment Management LLC acquired a new position in Match Group Inc (NASDAQ:MTCH) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 86,352 shares of the technology company’s stock, valued at approximately $5,809,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Northern Oak Wealth Management Inc. acquired a new position in Match Group during the 2nd quarter valued at about $42,000. NEXT Financial Group Inc increased its stake in Match Group by 850.0% during the 2nd quarter. NEXT Financial Group Inc now owns 950 shares of the technology company’s stock valued at $64,000 after buying an additional 850 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Match Group during the 2nd quarter valued at about $67,000. Cornerstone Advisors Inc. increased its stake in Match Group by 32.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,774 shares of the technology company’s stock valued at $100,000 after buying an additional 435 shares during the period. Finally, Stephens Inc. AR increased its stake in Match Group by 3,829.8% during the 1st quarter. Stephens Inc. AR now owns 1,847 shares of the technology company’s stock valued at $105,000 after buying an additional 1,800 shares during the period. 22.81% of the stock is currently owned by institutional investors and hedge funds.
In other Match Group news, CAO Philip D. Eigenmann sold 7,057 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $84.49, for a total value of $596,245.93. Following the completion of the transaction, the chief accounting officer now directly owns 13,133 shares in the company, valued at $1,109,607.17. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jared F. Sine sold 24,641 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $81.58, for a total transaction of $2,010,212.78. Following the completion of the transaction, the insider now owns 39,649 shares of the company’s stock, valued at $3,234,565.42. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
Shares of NASDAQ:MTCH traded down $1.41 during trading hours on Wednesday, hitting $71.42. 533,883 shares of the company’s stock traded hands, compared to its average volume of 1,999,389. Match Group Inc has a 52 week low of $33.30 and a 52 week high of $95.32. The company has a debt-to-equity ratio of 7.63, a quick ratio of 1.32 and a current ratio of 1.32. The company’s fifty day simple moving average is $81.59 and its two-hundred day simple moving average is $69.81. The company has a market cap of $20.42 billion, a price-to-earnings ratio of 53.58, a price-to-earnings-growth ratio of 2.67 and a beta of 0.22.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Match Group had a net margin of 26.51% and a return on equity of 166.69%. The company had revenue of $498.00 million during the quarter, compared to analyst estimates of $489.16 million. During the same quarter last year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, analysts anticipate that Match Group Inc will post 1.77 EPS for the current fiscal year.
Match Group Profile
Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.
Featured Article: Is the QQQ ETF safe?
Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group Inc (NASDAQ:MTCH).
Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.