NEXT Financial Group Inc Acquires 850 Shares of Match Group Inc (NASDAQ:MTCH)

NEXT Financial Group Inc increased its holdings in Match Group Inc (NASDAQ:MTCH) by 850.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 950 shares of the technology company’s stock after acquiring an additional 850 shares during the period. NEXT Financial Group Inc’s holdings in Match Group were worth $64,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Crosspoint Capital Strategies LLC purchased a new position in Match Group in the first quarter valued at approximately $1,464,000. Scout Investments Inc. lifted its stake in Match Group by 5.8% in the first quarter. Scout Investments Inc. now owns 276,357 shares of the technology company’s stock valued at $15,645,000 after purchasing an additional 15,186 shares during the last quarter. Marshall Wace LLP purchased a new position in Match Group in the first quarter valued at approximately $5,739,000. Marshall Wace North America L.P. purchased a new position in Match Group in the first quarter valued at approximately $5,467,000. Finally, Piedmont Investment Advisors Inc. purchased a new position in Match Group in the first quarter valued at approximately $220,000. 22.11% of the stock is owned by institutional investors.

NASDAQ:MTCH opened at $85.63 on Friday. The stock has a market capitalization of $25.80 billion, a P/E ratio of 64.38, a P/E/G ratio of 3.41 and a beta of 0.27. The stock’s fifty day moving average is $73.72. Match Group Inc has a 1 year low of $33.30 and a 1 year high of $95.32. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 11.10.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $498.00 million for the quarter, compared to the consensus estimate of $489.16 million. Match Group had a return on equity of 153.58% and a net margin of 26.51%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. Equities analysts forecast that Match Group Inc will post 1.78 earnings per share for the current year.

In related news, CEO Amanda Ginsberg sold 119,879 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $69.05, for a total value of $8,277,644.95. Following the sale, the chief executive officer now owns 211,784 shares in the company, valued at $14,623,685.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mcdaniel sold 6,400 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $70.26, for a total value of $449,664.00. Following the completion of the sale, the director now owns 9,578 shares in the company, valued at approximately $672,950.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,607 shares of company stock worth $9,034,034. Company insiders own 3.00% of the company’s stock.

Several research firms recently commented on MTCH. Goldman Sachs Group upgraded Match Group from a “sell” rating to a “neutral” rating and upped their price objective for the company from $48.00 to $66.00 in a research note on Thursday, May 9th. Cowen set a $104.00 price objective on Match Group and gave the company a “buy” rating in a research note on Wednesday. Barclays reiterated an “equal weight” rating and issued a $88.00 price objective (up previously from $66.00) on shares of Match Group in a research note on Thursday. Jefferies Financial Group upped their price objective on Match Group from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, BMO Capital Markets upped their price objective on Match Group from $74.00 to $85.00 and gave the company a “market perform” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $86.91.

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.

Further Reading: Gross Domestic Product (GDP)

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

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