M&G Plc Purchases New Stake in Match Group, Inc. (NASDAQ:MTCH)

M&G Plc bought a new stake in Match Group, Inc. (NASDAQ:MTCH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 292,243 shares of the technology company’s stock, valued at approximately $8,767,000. M&G Plc owned about 0.11% of Match Group as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Lazard Asset Management LLC grew its stake in shares of Match Group by 24.5% during the 1st quarter. Lazard Asset Management LLC now owns 410,938 shares of the technology company’s stock worth $14,908,000 after acquiring an additional 80,855 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Match Group by 54.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 85,777 shares of the technology company’s stock valued at $3,131,000 after buying an additional 30,229 shares in the last quarter. Norges Bank bought a new position in Match Group in the 4th quarter worth approximately $112,903,000. FORA Capital LLC purchased a new position in Match Group in the 1st quarter valued at approximately $2,410,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Match Group during the 4th quarter valued at $5,503,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 2.3 %

Shares of MTCH stock opened at $34.56 on Wednesday. The firm has a market capitalization of $8.91 billion, a PE ratio of 15.03, a P/E/G ratio of 0.72 and a beta of 1.48. The company has a 50 day moving average price of $32.51 and a 200-day moving average price of $33.31. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $47.81.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The firm had revenue of $864.07 million for the quarter, compared to the consensus estimate of $856.51 million. During the same period last year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts anticipate that Match Group, Inc. will post 1.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MTCH shares. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. TD Cowen upped their target price on shares of Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Susquehanna cut their price target on shares of Match Group from $46.00 to $45.00 and set a “positive” rating for the company in a report on Monday, May 13th. Finally, Wells Fargo & Company decreased their price target on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Match Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.