On September 18, 2023, Nordea Investment Management AB revealed that it had increased its stake in Match Group, Inc. (NASDAQ:MTCH) by 6.4% during the second quarter, as confirmed by the company’s recent filing with the SEC. The fund now owns 795,658 shares of Match Group’s stock after acquiring an additional 47,889 shares during the period. This holdings size represents 0.29% of Match Group’s overall worth, which is valued at $33,545,000 according to Nordea Investment Management AB’s most recent filing with the SEC.
Match Group, a technology company listed on NASDAQ (NASDAQ:MTCH), reported its earnings results on Tuesday, August 1st. In the second quarter of this year, Match Group exceeded analysts’ consensus estimates with earnings per share (EPS) of $0.48, surpassing expectations by $0.03 per share. The company generated revenue of $830 million for the period, compared to analyst estimates of $811.55 million. These figures indicate a 4.5% increase in revenue compared to the same quarter last year. However, it should be noted that Match Group experienced a negative return on equity of 121.94%. In the previous year’s second quarter, Match Group posted EPS of $0.70.
Analysis from various equities research analysts on MTCH reveals several noteworthy reports about Match Group’s performance and outlook.
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Investment Madness and Insider Trading Surrounding Match Group: A Look at Recent Activity and Potential Implications
In recent times, various significant investors have made notable adjustments to their positions in Match Group, the renowned technology company. CI Investments Inc., for instance, has witnessed an 83.5% increase in its stake during the fourth quarter, leading to its current ownership of 1,059 shares valued at $44,000. This surge came as a result of the acquisition of an additional 482 shares within that period. Similarly, AM Squared Ltd also entered the scene during the first quarter by acquiring a new position in Match Group worth $46,000.
Harbour Investments Inc., not wanting to be left behind, bolstered its investments in Match Group by 44.6% during the same first quarter. The firm now possesses 1,216 shares of the technology company’s stock with a value of $47,000 after obtaining an additional 375 shares within that period. Furthermore, Belpointe Asset Management LLC joined the group by purchasing a new stake in Match Group towards the end of the fourth quarter amounting to approximately $50,000.
As we delve deeper into this intriguing scenario of investment madness and frenzy surrounding Match Group stockholders’ moves, Money Concepts Capital Corp can also be seen advancing its own interests by increasing its stakes by a whopping 27%. This move resulted in Money Concepts Capital Corp’s ownership of an astounding 1,209 shares worth $50,000 after buying an extra 257 shares.
When taking a broader perspective on Match Group’s investors, it is important to note that institutional shareholders account for a whopping 93.56% ownership of the company’s stocks. This solidifies their significant influence and control over the organizationÂ’s direction and overall performance.
Stepping away from investor activities and turning our attention towards insider trading activities within Match Group; Director Ann Mcdaniel recently sold off a considerable 8,735 shares on Wednesday, August 9th at an average price of $45.82, resulting in a sum of $400,237.70. This transaction has left the director with 12,516 shares valued at approximately $573,483.12.
It is worth mentioning that this sale was made public through a legal filing with the Securities and Exchange Commission (SEC), making it accessible to the public via a link provided by the commission itself. Allegations of insider trading have emerged as insiders sold off a total of 10,235 shares over the past three months with an accumulated value of $467,703. These insider transactions commandeer 0.72% of the company’s stock ownership.
In present times, Match Group’s shares are priced at $44.15 as they opened on Monday. The firm maintains a moving average price of $45.25 over a span of 50 days and $40.09 over 200 days’ time frame. Through fluctuating conditions in the stock market, Match Group has experienced both highs and lows within the past year – its fifty-two-week low stands at $30.73 while its fifty-two-week high reached an impressive $56.64.
As for market capitalization, Match Group stands tall at a value of $12.28 billion with a price-to-earnings ratio (P/E) of 26.92 and a PEG ratio measuring in at 0.80%. The company’s beta evaluates at 1.36 – indicating its sensitivity to market volatility compared to benchmark standards.
With investments intensifying and insiders parting ways with their shares amidst increasing prices, it will be interesting to see how these factors contribute to Match Group’s future trajectory within the tech industry landscape.
