Scharf Investments LLC Buys 604,282 Shares of Match Group, Inc. (NASDAQ:MTCH)
Scharf Investments LLC increased its stake in Match Group, Inc. by 70.0% in the first quarter, according to its filing with the SEC. The fund now owns 1,467,996 shares of Match Group, making it their 24th biggest position. Match Group reported better than expected earnings for the quarter, with $0.44 EPS. Several analysts have issued positive ratings and a consensus price target of $42.43 for the stock.
Scharf Investments LLC lifted its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 70.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,467,996 shares of the technology company's stock after acquiring an additional 604,282 shares during the period. Match Group makes up 1.4% of Scharf Investments LLC's investment portfolio, making the stock its 24th biggest position. Scharf Investments LLC owned about 0.55% of Match Group worth $53,259,000 as of its most recent filing with the SEC.
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Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC increased its position in shares of Match Group by 6.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 11,421 shares of the technology company's stock valued at $447,000 after purchasing an additional 694 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Match Group by 44.2% during the third quarter. Envestnet Asset Management Inc. now owns 414,197 shares of the technology company's stock valued at $16,226,000 after acquiring an additional 126,930 shares during the last quarter. FMR LLC lifted its holdings in shares of Match Group by 14.2% in the 3rd quarter. FMR LLC now owns 3,434,071 shares of the technology company's stock worth $134,530,000 after acquiring an additional 427,635 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Match Group by 13.0% in the 3rd quarter. LPL Financial LLC now owns 112,237 shares of the technology company's stock worth $4,397,000 after acquiring an additional 12,946 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Match Group by 88.5% during the 3rd quarter. Mariner LLC now owns 23,044 shares of the technology company's stock valued at $903,000 after purchasing an additional 10,816 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.
Match Group Stock Performance
Shares of NASDAQ:MTCH traded up $0.13 during trading on Thursday, reaching $30.45. 7,176,566 shares of the stock traded hands, compared to its average volume of 5,545,021. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $49.24. The stock has a market cap of $8.09 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.51 and a beta of 1.46. The stock has a 50-day moving average of $31.00 and a two-hundred day moving average of $33.99.
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Match Group (NASDAQ:MTCH - Get Free Report) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.04. The business had revenue of $860.00 million during the quarter, compared to analyst estimates of $855.77 million. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Sell-side analysts expect that Match Group, Inc. will post 2.11 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Raymond James assumed coverage on shares of Match Group in a research report on Thursday, April 4th. They set a "market perform" rating for the company. The Goldman Sachs Group lowered their price objective on Match Group from $47.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Match Group from $42.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, May 9th. KeyCorp decreased their target price on shares of Match Group from $50.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, May 6th. Finally, UBS Group dropped their price target on shares of Match Group from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.43.
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View Our Latest Stock Report on MTCH
About Match Group
(Free Report)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.
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Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group, Inc. (NASDAQ:MTCH - Free Report).
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