VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 62,400 Shares of Match Group Inc. $MTCH

Key Points

• Virginia Retirement Systems increased its Match Group stake by 124.3% in the third quarter, acquiring 62,400 additional shares for a total position of 112,600 shares valued at approximately $4.52 million.
• Institutional investors and hedge funds own approximately 94.05% of Match Group. The stock recently traded at $41.41, with a market capitalization of about $9.51 billion.
• Match Group exceeded quarterly earnings expectations, reporting $0.70 in EPS versus a $0.65 consensus estimate, although revenue declined 1.2% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $44.23.

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 124.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,600 shares of the technology company's stock after acquiring an additional 62,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Match Group were worth $4,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MTCH. Choreo LLC grew its holdings in shares of Match Group by 39.6% during the third quarter. Choreo LLC now owns 20,780 shares of the technology company's stock worth $834,000 after purchasing an additional 5,898 shares during the last quarter. Interchange Capital Partners LLC raised its holdings in shares of Match Group by 7.4% in the third quarter. Interchange Capital Partners LLC now owns 13,488 shares of the technology company's stock valued at $542,000 after buying an additional 929 shares during the last quarter. Childress Capital Advisors LLC grew its holdings in Match Group by 37.7% during the 3rd quarter. Childress Capital Advisors LLC now owns 24,859 shares of the technology company's stock worth $998,000 after acquiring an additional 6,806 shares during the last quarter. Motley Fool Asset Management LLC acquired a new stake in Match Group in the 3rd quarter valued at about $291,000. Finally, VestGen Advisors LLC acquired a new stake in Match Group in the 3rd quarter valued at about $214,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $41.41 on Monday. Match Group Inc. has a one year low of $28.81 and a one year high of $46.67. The company has a 50 day moving average of $42.25 and a 200-day moving average of $36.49. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 0.62 and a beta of 1.43.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same period in the prior year, the business posted $0.49 earnings per share. Match Group's revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that Match Group Inc. will post 3.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ann Mcdaniel sold 3,531 shares of Match Group stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total transaction of $149,820.33. Following the completion of the sale, the director directly owned 26,839 shares of the company's stock, valued at $1,138,778.77. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glenn Schiffman acquired 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director directly owned 56,370 shares of the company's stock, valued at $2,064,833.10. The trade was a 5.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 23,291 shares of company stock worth $976,478. Company insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Match Group from $40.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 28th. Zacks Research cut shares of Match Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Susquehanna reaffirmed a "positive" rating on shares of Match Group in a report on Wednesday, August 5th. Morgan Stanley set a $40.00 price objective on Match Group in a research report on Wednesday, August 5th. Finally, Truist Financial lifted their target price on Match Group from $37.00 to $41.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Match Group has a consensus rating of "Moderate Buy" and an average target price of $44.23.

About Match Group

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.

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