State Board of Administration of Florida Retirement System Has $13.86 Million Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Posted by on May 8th, 2023

State Board of Administration of Florida Retirement System lowered its stake in Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 334,079 shares of the technology company’s stock after selling 2,940 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.12% of Match Group worth $13,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bleakley Financial Group LLC acquired a new stake in shares of Match Group in the fourth quarter valued at about $3,076,000. Metis Global Partners LLC increased its position in shares of Match Group by 35.5% in the fourth quarter. Metis Global Partners LLC now owns 7,026 shares of the technology company’s stock valued at $292,000 after acquiring an additional 1,840 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Match Group by 4.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 232,973 shares of the technology company’s stock valued at $9,566,000 after acquiring an additional 10,545 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Match Group by 2,005.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 60,119 shares of the technology company’s stock valued at $2,494,000 after acquiring an additional 57,263 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in Match Group during the fourth quarter worth approximately $227,000. Institutional investors and hedge funds own 93.53% of the company’s stock.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $33.22 on Monday. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 0.63 and a beta of 1.34. The business’s 50-day moving average is $36.94 and its 200-day moving average is $42.52. Match Group, Inc. has a 1 year low of $32.87 and a 1 year high of $87.46.

Match Group (NASDAQ:MTCH – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Match Group had a negative return on equity of 116.87% and a net margin of 9.51%. The company had revenue of $787.12 million for the quarter, compared to the consensus estimate of $794.06 million. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that Match Group, Inc. will post 2.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Citigroup lowered their price target on Match Group from $40.00 to $38.00 in a research report on Thursday. Loop Capital lowered their price target on Match Group from $50.00 to $35.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on Match Group from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 2nd. KeyCorp decreased their target price on Match Group from $75.00 to $60.00 in a research report on Monday, May 1st. Finally, Robert W. Baird initiated coverage on Match Group in a research report on Tuesday, April 11th. They issued an “outperform” rating and a $50.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.57.

Insider Activity at Match Group

In related news, insider Jared F. Sine sold 7,110 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $41.27, for a total value of $293,429.70. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

About Match Group

(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.

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

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