Ashburton Jersey Ltd Grows Position in Match Group, Inc. (NASDAQ:MTCH)

Ashburton Jersey Ltd raised its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 88.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,036 shares of the technology company’s stock after buying an additional 9,426 shares during the quarter. Ashburton Jersey Ltd’s holdings in Match Group were worth $769,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Granahan Investment Management LLC increased its holdings in Match Group by 0.4% in the 4th quarter. Granahan Investment Management LLC now owns 64,378 shares of the technology company’s stock worth $2,671,000 after buying an additional 248 shares during the period. Money Concepts Capital Corp grew its stake in shares of Match Group by 27.0% during the 4th quarter. Money Concepts Capital Corp now owns 1,209 shares of the technology company’s stock worth $50,000 after purchasing an additional 257 shares during the period. Ontario Teachers Pension Plan Board grew its stake in shares of Match Group by 4.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 6,936 shares of the technology company’s stock worth $754,000 after purchasing an additional 280 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Match Group by 2.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 10,192 shares of the technology company’s stock worth $487,000 after purchasing an additional 283 shares during the period. Finally, Laurel Wealth Advisors Inc. grew its stake in shares of Match Group by 6.9% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 4,480 shares of the technology company’s stock worth $488,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 93.56% of the company’s stock.

Match Group Price Performance

Shares of MTCH stock opened at $43.30 on Wednesday. The business’s fifty day moving average price is $45.12 and its 200 day moving average price is $40.05. The firm has a market capitalization of $12.04 billion, a PE ratio of 26.40, a P/E/G ratio of 0.81 and a beta of 1.36. Match Group, Inc. has a 1-year low of $30.73 and a 1-year high of $61.85.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $830.00 million for the quarter, compared to the consensus estimate of $811.55 million. Match Group had a negative return on equity of 121.94% and a net margin of 14.68%. Match Group’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. Equities research analysts expect that Match Group, Inc. will post 1.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Match Group news, Director Ann Mcdaniel sold 8,735 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $45.82, for a total transaction of $400,237.70. Following the sale, the director now directly owns 12,516 shares in the company, valued at $573,483.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 10,235 shares of company stock worth $467,703. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MTCH. Barclays increased their target price on Match Group from $50.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Loop Capital raised their price objective on Match Group from $35.00 to $38.00 in a research report on Tuesday, June 27th. KeyCorp raised their price objective on Match Group from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Stifel Nicolaus lifted their target price on Match Group from $37.00 to $44.00 in a research report on Thursday, August 3rd. Finally, Piper Sandler lifted their price objective on Match Group from $55.00 to $60.00 in a research note on Friday, July 14th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.77.

Match Group Company Profile

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