Match Group Inc (MTCH) Holdings Cut by Denali Advisors LLC

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Denali Advisors LLC lessened its holdings in Match Group Inc (NASDAQ:MTCH) by 49.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,600 shares of the technology company’s stock after selling 9,300 shares during the period. Denali Advisors LLC’s holdings in Match Group were worth $556,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Match Group by 9.1% in the first quarter. Dimensional Fund Advisors LP now owns 215,662 shares of the technology company’s stock valued at $9,584,000 after acquiring an additional 17,958 shares during the last quarter. Cypress Funds LLC bought a new position in Match Group in the second quarter valued at about $6,198,000. GAM Holding AG bought a new position in Match Group in the second quarter valued at about $857,000. Rhumbline Advisers grew its position in Match Group by 31.1% in the second quarter. Rhumbline Advisers now owns 60,248 shares of the technology company’s stock valued at $2,334,000 after acquiring an additional 14,296 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in Match Group in the second quarter valued at about $915,000. Hedge funds and other institutional investors own 22.58% of the company’s stock.

In related news, CEO Amanda Ginsberg sold 106,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $49.37, for a total value of $5,275,184.50. Following the sale, the chief executive officer now directly owns 62,682 shares in the company, valued at $3,094,610.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jared F. Sine sold 27,343 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $48.51, for a total value of $1,326,408.93. Following the completion of the sale, the general counsel now owns 65,022 shares in the company, valued at $3,154,217.22. The disclosure for this sale can be found here. Insiders sold 251,000 shares of company stock worth $12,382,872 over the last quarter. 7.00% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on MTCH shares. Jefferies Financial Group boosted their price target on Match Group from $55.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. BidaskClub upgraded Match Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 29th. UBS Group boosted their price target on Match Group from $52.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Aegis boosted their price target on Match Group from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, September 12th. Finally, Deutsche Bank boosted their price target on Match Group from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 17th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $47.13.

NASDAQ:MTCH opened at $50.42 on Thursday. The stock has a market cap of $16.03 billion, a PE ratio of 96.96, a PEG ratio of 3.78 and a beta of 0.35. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.18. Match Group Inc has a 1-year low of $24.40 and a 1-year high of $60.95.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. Match Group had a return on equity of 53.18% and a net margin of 32.94%. The company had revenue of $421.20 million for the quarter, compared to analysts’ expectations of $413.07 million. As a group, sell-side analysts anticipate that Match Group Inc will post 1.23 earnings per share for the current year.

About Match Group

Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.

See Also: Conference Calls and Individual Investors

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

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