Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by Baird Financial Group Inc.

Posted by on Jun 12th, 2023

Baird Financial Group Inc. raised its holdings in Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 43.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,758 shares of the technology company’s stock after purchasing an additional 60,252 shares during the quarter. Baird Financial Group Inc. owned 0.07% of Match Group worth $8,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MTCH. Acadian Asset Management LLC boosted its stake in shares of Match Group by 73.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,082 shares of the technology company’s stock worth $224,000 after acquiring an additional 884 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Match Group by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 840,248 shares of the technology company’s stock worth $91,374,000 after acquiring an additional 26,902 shares in the last quarter. Aviva PLC raised its position in shares of Match Group by 4.0% during the 1st quarter. Aviva PLC now owns 90,746 shares of the technology company’s stock worth $9,868,000 after purchasing an additional 3,455 shares during the last quarter. Prudential PLC acquired a new position in shares of Match Group during the 1st quarter worth approximately $279,000. Finally, Vanguard Group Inc. raised its position in shares of Match Group by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock worth $3,170,951,000 after purchasing an additional 500,418 shares during the last quarter. Hedge funds and other institutional investors own 93.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MTCH shares. Barclays cut their price objective on Match Group from $52.00 to $50.00 in a research report on Thursday, May 4th. Susquehanna reduced their price target on Match Group from $70.00 to $48.00 in a research note on Thursday, May 4th. Robert W. Baird assumed coverage on Match Group in a research note on Tuesday, April 11th. They set an “outperform” rating and a $50.00 price target on the stock. KeyCorp reduced their price target on Match Group from $75.00 to $60.00 in a research note on Monday, May 1st. Finally, Morgan Stanley increased their price target on Match Group from $90.00 to $95.00 in a research note on Monday, March 20th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and an average price target of $59.14.

Match Group Trading Down 0.5 %

NASDAQ:MTCH traded down $0.20 during midday trading on Monday, hitting $41.39. 2,253,641 shares of the stock were exchanged, compared to its average volume of 4,644,662. Match Group, Inc. has a one year low of $30.73 and a one year high of $79.37. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 39.79, a P/E/G ratio of 0.84 and a beta of 1.34. The business has a 50-day moving average price of $34.95 and a two-hundred day moving average price of $40.59.

Match Group (NASDAQ:MTCH – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $787.12 million for the quarter, compared to analysts’ expectations of $794.06 million. During the same period in the previous year, the company posted $0.60 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that Match Group, Inc. will post 2.02 EPS for the current fiscal year.

Insider Activity

In related news, CEO Bernard Jin Kim purchased 31,439 shares of the stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $34.44 per share, for a total transaction of $1,082,759.16. Following the acquisition, the chief executive officer now directly owns 48,500 shares in the company, valued at approximately $1,670,340. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% 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.

Further Reading

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

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