Mazama Capital Buys $2.13m Stake In The Match Group

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US equity firm Mazama Capital recently bought a stake in The Match Group worth $2,134,000.

This investment was made in the fourth quarter of 2015, the Portland-based firm purchasing 157,471 shares in the dating company.

And according to its most recent filing with the SEC, Mazama Capital Management Inc. owns about 0.06% of Match Group.

This comes as other investors increased their stake in the dating business, with Schroder Investment Management Group buying a new stake during the fourth quarter valued at approximately $15,585,000.

RS Investment Management Co. LLC also acquired a new position in Match Group valued at about $15,810,000.

Last month, investment firm Morgan Stanley also purchased 126,919 shares of the company’s stock, worth $1.72m.

The investment news comes after it was revealed Match Group was getting sued after being accused of violating federal securities law in connection with last year’s IPO.

A number of law firms announced they have filed a class action lawsuit against The Match Group in the United States District Court for the Northern District of Texas, on behalf of people who purchased Match Group shares before its IPO.

The lawsuit says that on November 19th, 2015, The Match Group sold 33,333,333 shares at $12.00 per share as part of its IPO.

But then on February 2nd, 2016, the company revealed to investors a “decline in total user growth and per-user revenue, and the cannibalization of users and revenues across competing platforms.”

The suit also says the company revealed its net income has “consistently fallen” which was revealed in its fourth quarter and full year 2015 results, the company disclosing that its fourth quarter net income declined from $48m in the fourth quarter of 2014 to $35m in the fourth quarter of 2015.

Read more about the suit here.