New York State Common Retirement Fund Trims Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Posted by on Apr 20th, 2023

New York State Common Retirement Fund decreased its position in Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 290,600 shares of the technology company’s stock after selling 6,342 shares during the period. New York State Common Retirement Fund owned 0.10% of Match Group worth $12,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Utah Retirement Systems lifted its holdings in shares of Match Group by 0.4% in the 3rd quarter. Utah Retirement Systems now owns 51,005 shares of the technology company’s stock worth $2,436,000 after buying an additional 200 shares during the period. Park Avenue Securities LLC lifted its stake in Match Group by 3.9% in the fourth quarter. Park Avenue Securities LLC now owns 5,563 shares of the technology company’s stock worth $231,000 after acquiring an additional 209 shares during the period. Allworth Financial LP grew its holdings in Match Group by 38.9% during the 3rd quarter. Allworth Financial LP now owns 817 shares of the technology company’s stock worth $39,000 after acquiring an additional 229 shares in the last quarter. Riverview Trust Co increased its position in Match Group by 21.4% during the 3rd quarter. Riverview Trust Co now owns 1,322 shares of the technology company’s stock valued at $63,000 after purchasing an additional 233 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Match Group by 0.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 39,185 shares of the technology company’s stock valued at $1,871,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 93.53% of the company’s stock.

Match Group Price Performance

Shares of Match Group stock opened at $35.12 on Thursday. Match Group, Inc. has a 1-year low of $34.33 and a 1-year high of $93.90. The company has a market capitalization of $9.81 billion, a PE ratio of 28.55, a P/E/G ratio of 0.62 and a beta of 1.34. The business has a 50-day moving average of $39.30 and a 200-day moving average of $43.63.

Match Group (NASDAQ:MTCH – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.17). The business had revenue of $786.15 million for the quarter, compared to analysts’ expectations of $787.34 million. Match Group had a negative return on equity of 146.76% and a net margin of 11.35%. Match Group’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.60) earnings per share. On average, equities analysts expect that Match Group, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Match Group

In other Match Group news, insider Jared F. Sine sold 7,110 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $41.27, for a total transaction of $293,429.70. Following the completion of the transaction, the insider now directly owns 60,379 shares of the company’s stock, valued at approximately $2,491,841.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MTCH has been the topic of several recent research reports. Piper Sandler upped their price target on shares of Match Group from $20.00 to $27.00 in a report on Tuesday, February 7th. Jefferies Financial Group raised their price target on shares of Match Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Loop Capital raised their price objective on Match Group from $45.00 to $50.00 in a research report on Tuesday, January 24th. Barclays upgraded Match Group from an “equal weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Tuesday, March 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Match Group from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 2nd. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.85.

About Match Group

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Match Group, Inc engages in the provision of dating products. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.

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

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