Bank of New York Mellon Corp Has $20.07 Million Stake in Match Group Inc (NASDAQ:MTCH)

Bank of New York Mellon Corp boosted its position in shares of Match Group Inc (NASDAQ:MTCH) by 10.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 303,838 shares of the technology company’s stock after purchasing an additional 29,902 shares during the period. Bank of New York Mellon Corp’s holdings in Match Group were worth $20,066,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Schroder Investment Management Group acquired a new stake in Match Group during the fourth quarter worth about $30,000. 1776 Wealth LLC boosted its stake in shares of Match Group by 317.9% in the 1st quarter. 1776 Wealth LLC now owns 514 shares of the technology company’s stock valued at $33,000 after purchasing an additional 391 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Match Group by 68.2% in the 1st quarter. Synovus Financial Corp now owns 540 shares of the technology company’s stock valued at $35,000 after purchasing an additional 219 shares in the last quarter. Parallel Advisors LLC acquired a new stake in shares of Match Group in the 4th quarter valued at approximately $39,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Match Group in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Shares of MTCH stock opened at $88.93 on Friday. The company has a market cap of $24.49 billion, a price-to-earnings ratio of 45.84, a price-to-earnings-growth ratio of 2.99 and a beta of 0.52. Match Group Inc has a 52 week low of $44.74 and a 52 week high of $95.32. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 7.09. The firm has a 50 day moving average of $78.45 and a 200-day moving average of $74.37.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.19. The business had revenue of $544.60 million during the quarter, compared to the consensus estimate of $545.02 million. Match Group had a net margin of 26.84% and a return on equity of 199.73%. Match Group’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Analysts anticipate that Match Group Inc will post 2.13 earnings per share for the current year.

In other Match Group news, insider Jared F. Sine sold 6,230 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $78.08, for a total value of $486,438.40. Following the completion of the sale, the insider now owns 13,132 shares of the company’s stock, valued at $1,025,346.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Philip D. Eigenmann sold 8,813 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $85.23, for a total value of $751,131.99. Following the completion of the sale, the chief accounting officer now owns 13,134 shares of the company’s stock, valued at approximately $1,119,410.82. The disclosure for this sale can be found here. Insiders sold a total of 107,102 shares of company stock worth $8,853,507 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on MTCH. Aegis restated a “buy” rating and issued a $95.00 price target on shares of Match Group in a research note on Sunday, February 9th. UBS Group reduced their price target on shares of Match Group from $92.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Nomura raised their price objective on shares of Match Group from $84.00 to $100.00 in a report on Thursday, May 7th. BidaskClub upgraded shares of Match Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 1st. Finally, Barclays reiterated a “hold” rating and issued a $86.00 price objective on shares of Match Group in a report on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Match Group currently has a consensus rating of “Buy” and an average price target of $92.26.

Match Group Company 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.

Recommended Story: Gap Up Stocks

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).