Mitsubishi UFJ Trust & Banking Corp Boosts Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Posted by Defense World Staff on Aug 21st, 2023

Mitsubishi UFJ Trust & Banking Corp grew its position in Match Group, Inc. (NASDAQ:MTCH – Free Report) by 26.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,742 shares of the technology company’s stock after acquiring an additional 42,650 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Match Group worth $7,898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Granahan Investment Management LLC increased its holdings in shares of Match Group by 0.4% in the 4th quarter. Granahan Investment Management LLC now owns 64,378 shares of the technology company’s stock valued at $2,671,000 after acquiring an additional 248 shares during the last quarter. Money Concepts Capital Corp increased its holdings in shares of Match Group by 27.0% in the 4th quarter. Money Concepts Capital Corp now owns 1,209 shares of the technology company’s stock valued at $50,000 after acquiring an additional 257 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Match Group by 4.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 6,936 shares of the technology company’s stock valued at $754,000 after acquiring an additional 280 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Match Group by 2.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 10,192 shares of the technology company’s stock valued at $487,000 after acquiring an additional 283 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. increased its holdings in shares of Match Group by 6.9% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 4,480 shares of the technology company’s stock valued at $488,000 after acquiring an additional 290 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MTCH. Citigroup lowered their price target on Match Group from $40.00 to $38.00 in a report on Thursday, May 4th. KeyCorp upped their price objective on Match Group from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Barclays upped their price objective on Match Group from $50.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Truist Financial upped their price objective on Match Group from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, StockNews.com began coverage on Match Group in a research note on Thursday. They set a “hold” rating for the company. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.77.

Read Our Latest Stock Report on MTCH

Insider Transactions at Match Group

In related news, CEO Bernard Jin Kim bought 31,439 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were bought at an average cost 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 of the company’s stock, valued at $1,670,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Bernard Jin Kim bought 31,439 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were bought at an average cost 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 of the company’s stock, valued at $1,670,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mcdaniel sold 8,735 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $45.82, for a total value of $400,237.70. Following the sale, the director now directly owns 12,516 shares in the company, valued at $573,483.12. The disclosure for this sale can be found here. Insiders have sold 10,235 shares of company stock valued at $461,683 over the last three months. Company insiders own 0.72% of the company’s stock.

Match Group Stock Down 0.4 %

Shares of Match Group stock opened at $44.40 on Monday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 0.80 and a beta of 1.41. The business has a fifty day simple moving average of $44.15 and a 200-day simple moving average of $40.13. Match Group, Inc. has a fifty-two week low of $30.73 and a fifty-two week high of $64.49.

Match Group (NASDAQ:MTCH – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $830.00 million during the quarter, compared to analyst estimates of $811.55 million. Match Group had a negative return on equity of 121.94% and a net margin of 14.68%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Analysts anticipate that Match Group, Inc. will post 1.98 earnings per share for the current fiscal year.

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.