Maverick Capital Ltd. Acquires New Stake in Match Group, Inc. (NASDAQ:MTCH)

Maverick Capital Ltd. acquired a new stake in Match Group, Inc. (NASDAQ:MTCH) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 75,083 shares of the technology company’s stock, valued at approximately $2,882,000.

Other institutional investors have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Match Group by 19.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,307 shares of the technology company’s stock valued at $165,000 after purchasing an additional 711 shares during the last quarter. Glenview Trust co raised its holdings in Match Group by 57.0% during the 1st quarter. Glenview Trust co now owns 37,955 shares of the technology company’s stock valued at $1,457,000 after acquiring an additional 13,777 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Match Group by 3.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,377 shares of the technology company’s stock valued at $6,694,000 after acquiring an additional 5,361 shares during the period. Clear Harbor Asset Management LLC raised its holdings in Match Group by 30.2% during the 1st quarter. Clear Harbor Asset Management LLC now owns 9,191 shares of the technology company’s stock valued at $353,000 after acquiring an additional 2,131 shares during the period. Finally, Wittenberg Investment Management Inc. bought a new stake in Match Group during the 1st quarter valued at $910,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Match Group Stock Performance

MTCH traded up $0.29 during trading on Monday, reaching $44.34. The stock had a trading volume of 769,143 shares, compared to its average volume of 4,587,012. The business has a 50-day moving average of $45.08 and a 200-day moving average of $40.04. Match Group, Inc. has a one year low of $30.73 and a one year high of $63.47. The stock has a market cap of $12.33 billion, a PE ratio of 27.15, a PEG ratio of 0.81 and a beta of 1.36.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTCH shares. KeyCorp boosted their target price on shares of Match Group from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Piper Sandler boosted their target price on shares of Match Group from $55.00 to $60.00 in a report on Friday, July 14th. Stifel Nicolaus boosted their target price on shares of Match Group from $37.00 to $44.00 in a report on Thursday, August 3rd. Royal Bank of Canada boosted their target price on shares of Match Group from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, BTIG Research raised shares of Match Group from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Match Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.77.

Insider Buying and Selling at Match Group

In other Match Group news, Director Ann Mcdaniel sold 8,735 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $45.82, for a total transaction of $400,237.70. Following the completion of 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 is accessible through this link. Insiders sold a total of 10,235 shares of company stock worth $467,703 over the last three months. Company insiders own 0.72% of the company’s stock.

About Match Group

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.