Bessemer Group Inc. Sells 16,412 Shares of Match Group Inc. $MTCH

Bessemer Group Inc. lowered its position in shares of Match Group Inc. (NASDAQ:MTCH) by 57.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,948 shares of the technology company’s stock after selling 16,412 shares during the period. Bessemer Group Inc.’s holdings in Match Group were worth $369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its holdings in Match Group by 5.0% in the first quarter. Stratos Wealth Partners LTD. now owns 19,671 shares of the technology company’s stock worth $614,000 after acquiring an additional 939 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Match Group by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock worth $2,780,000 after acquiring an additional 10,269 shares in the last quarter. Patton Fund Management Inc. bought a new position in Match Group in the second quarter worth approximately $226,000. Meritage Portfolio Management bought a new position in Match Group in the second quarter worth approximately $693,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Match Group by 9.3% in the first quarter. Envestnet Asset Management Inc. now owns 553,599 shares of the technology company’s stock worth $17,272,000 after acquiring an additional 47,137 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 0.1%

Shares of Match Group stock opened at $32.34 on Monday. The company has a market cap of $7.78 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 0.63 and a beta of 1.38. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The business has a 50 day moving average price of $35.29 and a 200-day moving average price of $33.13.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTCH. JPMorgan Chase & Co. increased their price target on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Susquehanna increased their price target on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Evercore ISI increased their price target on Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a report on Wednesday, August 6th. Morgan Stanley lowered their price objective on Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Finally, UBS Group increased their price objective on Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.56.

Insider Activity at Match Group

In related news, Director Ann Mcdaniel sold 5,423 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the completion of the sale, the director directly owned 21,926 shares of the company’s stock, valued at approximately $823,979.08. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen Bailey sold 12,500 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the sale, the director directly owned 8,058 shares of the company’s stock, valued at $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 24,454 shares of company stock valued at $907,839. 0.64% of the stock is owned by insiders.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.