Oppenheimer Asset Management Inc. Decreases Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Posted by on May 6th, 2023

Oppenheimer Asset Management Inc. cut its position in Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,729 shares of the technology company’s stock after selling 3,127 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Match Group were worth $860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MTCH. Acadian Asset Management LLC boosted its stake in shares of Match Group by 73.8% in the first quarter. Acadian Asset Management LLC now owns 2,082 shares of the technology company’s stock valued at $224,000 after purchasing an additional 884 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Match Group by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 840,248 shares of the technology company’s stock valued at $91,374,000 after purchasing an additional 26,902 shares during the period. Aviva PLC boosted its stake in shares of Match Group by 4.0% in the first quarter. Aviva PLC now owns 90,746 shares of the technology company’s stock valued at $9,868,000 after purchasing an additional 3,455 shares during the period. Prudential PLC purchased a new position in shares of Match Group in the first quarter valued at $279,000. Finally, Vanguard Group Inc. boosted its stake in shares of Match Group by 1.7% in the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock valued at $3,170,951,000 after purchasing an additional 500,418 shares during the period. 93.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MTCH shares. StockNews.com started coverage on shares of Match Group in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Jefferies Financial Group increased their price objective on shares of Match Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Barclays reduced their price objective on shares of Match Group from $52.00 to $50.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Match Group from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 2nd. Finally, Piper Sandler increased their price objective on shares of Match Group from $20.00 to $27.00 in a research note on Tuesday, February 7th. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.57.

Match Group Stock Down 1.1 %

MTCH stock opened at $33.22 on Friday. Match Group, Inc. has a fifty-two week low of $32.87 and a fifty-two week high of $87.46. The firm’s 50-day simple moving average is $36.94 and its 200 day simple moving average is $42.56. The stock has a market cap of $9.28 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 0.64 and a beta of 1.34.

Match Group (NASDAQ:MTCH – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Match Group had a net margin of 9.51% and a negative return on equity of 116.87%. The business had revenue of $787.12 million for the quarter, compared to analysts’ expectations of $794.06 million. During the same quarter last year, the company earned $0.60 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts forecast that Match Group, Inc. will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jared F. Sine sold 7,110 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $41.27, for a total value of $293,429.70. Following the completion of the transaction, the insider now owns 60,379 shares in the company, valued at approximately $2,491,841.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Match Group Company Profile

(Get Rating)

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.

See Also

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

Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.