abrdn plc Sells 4,210 Shares of Match Group, Inc. (NASDAQ:MTCH)

Posted by Defense World Staff on Jul 24th, 2023

abrdn plc trimmed its stake in Match Group, Inc. (NASDAQ:MTCH – Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,527 shares of the technology company’s stock after selling 4,210 shares during the period. abrdn plc’s holdings in Match Group were worth $3,552,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MTCH. Vanguard Group Inc. grew its holdings in shares of Match Group by 1.7% in 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. Moneta Group Investment Advisors LLC grew its stake in Match Group by 107,412.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock worth $984,604,000 after buying an additional 23,709,043 shares during the last quarter. State Street Corp increased its holdings in shares of Match Group by 0.5% during the first quarter. State Street Corp now owns 12,492,462 shares of the technology company’s stock worth $1,358,430,000 after buying an additional 58,027 shares in the last quarter. Flossbach Von Storch AG raised its stake in shares of Match Group by 23.6% in the fourth quarter. Flossbach Von Storch AG now owns 8,093,912 shares of the technology company’s stock valued at $335,816,000 after acquiring an additional 1,547,256 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Match Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,838,132 shares of the technology company’s stock worth $241,813,000 after acquiring an additional 71,378 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Performance

Shares of NASDAQ:MTCH opened at $44.84 on Monday. The company has a 50 day moving average price of $40.29 and a two-hundred day moving average price of $40.59. The company has a market capitalization of $12.49 billion, a PE ratio of 42.70, a PEG ratio of 1.02 and a beta of 1.39. Match Group, Inc. has a 52 week low of $30.73 and a 52 week high of $77.77.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on Match Group from $42.00 to $40.00 in a report on Thursday, May 4th. Robert W. Baird started coverage on Match Group in a report on Tuesday, April 11th. They issued an “outperform” rating and a $50.00 price target for the company. The Goldman Sachs Group decreased their price objective on shares of Match Group from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, April 21st. StockNews.com started coverage on shares of Match Group in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, KeyCorp reduced their target price on shares of Match Group from $75.00 to $60.00 in a research report on Monday, May 1st. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.77.

Insider Buying and Selling at Match Group

In other Match Group news, CEO Bernard Jin Kim purchased 31,439 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were bought at an average price of $34.44 per share, with a total value of $1,082,759.16. Following the completion of the transaction, 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 available through this hyperlink. Insiders own 0.72% of the company’s stock.

Match Group Profile

(Free Report)

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, The League, Azar, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and Hakuna, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.