South Dakota Investment Council Acquires 5,100 Shares of Match Group, Inc. (NASDAQ:MTCH)

South Dakota Investment Council boosted its holdings in Match Group, Inc. (NASDAQ:MTCH) by 141.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,700 shares of the technology company’s stock after buying an additional 5,100 shares during the period. South Dakota Investment Council’s holdings in Match Group were worth $318,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Match Group in the 4th quarter worth approximately $55,000. Greenwich Wealth Management LLC increased its position in Match Group by 1.9% in the 4th quarter. Greenwich Wealth Management LLC now owns 19,170 shares of the technology company’s stock worth $700,000 after buying an additional 361 shares during the period. abrdn plc increased its position in shares of Match Group by 52.9% during the fourth quarter. abrdn plc now owns 133,690 shares of the technology company’s stock valued at $4,880,000 after purchasing an additional 46,262 shares during the period. Kornitzer Capital Management Inc. KS increased its position in shares of Match Group by 32.3% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 244,500 shares of the technology company’s stock valued at $8,924,000 after purchasing an additional 59,630 shares during the period. Finally, Cornerstone Investment Partners LLC increased its position in shares of Match Group by 29.0% during the fourth quarter. Cornerstone Investment Partners LLC now owns 15,588 shares of the technology company’s stock valued at $569,000 after purchasing an additional 3,500 shares during the period. 94.05% of the stock is owned by institutional investors.

Match Group Stock Down 0.8 %

Shares of MTCH opened at $31.69 on Friday. Match Group, Inc. has a 12-month low of $27.85 and a 12-month high of $49.24. The firm has a market capitalization of $8.49 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41. The stock’s fifty day simple moving average is $34.61 and its 200-day simple moving average is $34.65.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.32. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The business had revenue of $866.00 million for the quarter, compared to analyst estimates of $861.31 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts anticipate that Match Group, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley cut Match Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $53.00 to $37.00 in a research report on Thursday, April 18th. JPMorgan Chase & Co. lowered their price objective on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. UBS Group boosted their price objective on Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. KeyCorp upped their price target on Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, Citigroup upped their price target on Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group has an average rating of “Hold” and a consensus price target of $43.07.

About Match Group

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.