Inverness Counsel LLC NY Decreases Stake in Match Group, Inc. (NASDAQ:MTCH)

Inverness Counsel LLC NY cut its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 69,002 shares of the technology company’s stock after selling 1,657 shares during the quarter. Inverness Counsel LLC NY’s holdings in Match Group were worth $11,127,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. National Asset Management Inc. raised its stake in Match Group by 11.3% during the second quarter. National Asset Management Inc. now owns 12,754 shares of the technology company’s stock worth $1,998,000 after purchasing an additional 1,297 shares during the period. Principal Financial Group Inc. raised its stake in Match Group by 29.3% during the second quarter. Principal Financial Group Inc. now owns 35,643 shares of the technology company’s stock worth $5,747,000 after purchasing an additional 8,085 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Match Group by 4.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 22,837 shares of the technology company’s stock worth $3,682,000 after purchasing an additional 961 shares during the period. First Bank & Trust raised its stake in Match Group by 2.9% during the second quarter. First Bank & Trust now owns 7,066 shares of the technology company’s stock worth $1,139,000 after purchasing an additional 200 shares during the period. Finally, Bessemer Securities LLC raised its stake in Match Group by 10.3% during the second quarter. Bessemer Securities LLC now owns 11,768 shares of the technology company’s stock worth $1,898,000 after purchasing an additional 1,100 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Shares of Match Group stock traded up $1.55 during trading hours on Wednesday, hitting $158.91. The company had a trading volume of 40,198 shares, compared to its average volume of 2,575,194. The company’s 50-day moving average is $150.62 and its two-hundred day moving average is $148.37. Match Group, Inc. has a twelve month low of $100.61 and a twelve month high of $174.68. The company has a market cap of $43.99 billion, a P/E ratio of 79.88, a price-to-earnings-growth ratio of 7.30 and a beta of 1.10.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 3rd. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). Match Group had a net margin of 22.06% and a negative return on equity of 59.21%. The business had revenue of $707.76 million during the quarter, compared to analysts’ expectations of $692.07 million. Equities research analysts expect that Match Group, Inc. will post 2.07 earnings per share for the current fiscal year.

In related news, Director Joseph Levin sold 25,444 shares of the company’s stock in a transaction on Friday, July 23rd. The shares were sold at an average price of $166.43, for a total value of $4,234,644.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 101,119 shares of company stock valued at $16,839,782. 1.30% of the stock is owned by insiders.

MTCH has been the topic of a number of research analyst reports. Royal Bank of Canada initiated coverage on shares of Match Group in a research note on Friday, July 9th. They issued an “outperform” rating and a $190.00 price target on the stock. Truist boosted their price target on shares of Match Group from $160.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, July 21st. KeyCorp boosted their price target on shares of Match Group from $172.00 to $176.00 and gave the company an “overweight” rating in a research note on Monday, August 2nd. Morgan Stanley initiated coverage on shares of Match Group in a report on Friday, June 18th. They issued an “overweight” rating and a $180.00 price objective for the company. Finally, HSBC restated a “hold” rating on shares of Match Group in a report on Tuesday, August 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Match Group presently has an average rating of “Buy” and an average price target of $165.22.

About Match Group

Match Group, Inc engages in the provision of dating products. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.

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

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