Bank Julius Baer & Co. Ltd Zurich Reduces Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Match Group, Inc. (NASDAQ:MTCH) by 7.5% during the 4th quarter, HoldingsChannel reports. The firm owned 124,477 shares of the technology company’s stock after selling 10,165 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Match Group were worth $4,543,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Watershed Asset Management L.L.C. bought a new position in shares of Match Group in the fourth quarter worth about $328,000. South Dakota Investment Council raised its stake in shares of Match Group by 141.7% in the fourth quarter. South Dakota Investment Council now owns 8,700 shares of the technology company’s stock worth $318,000 after buying an additional 5,100 shares during the period. GAMMA Investing LLC bought a new position in shares of Match Group in the fourth quarter worth about $55,000. Greenwich Wealth Management LLC raised its stake in shares of Match Group by 1.9% in the fourth 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. Finally, abrdn plc raised its stake in shares of Match Group by 52.9% in the fourth quarter. abrdn plc now owns 133,690 shares of the technology company’s stock worth $4,880,000 after buying an additional 46,262 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Performance

Shares of Match Group stock opened at $31.89 on Friday. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41. The stock has a 50 day moving average price of $34.49 and a 200-day moving average price of $34.62. Match Group, Inc. has a one year low of $27.85 and a one year high of $49.24.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, January 30th. The technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.32. The firm had revenue of $866.00 million during the quarter, compared to analysts’ expectations of $861.31 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. Sell-side analysts predict that Match Group, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MTCH has been the topic of several recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $45.00 target price on shares of Match Group in a research note on Wednesday, March 27th. KeyCorp lifted their target price on Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Raymond James initiated coverage on Match Group in a research note on Thursday, April 4th. They set a “market perform” rating on the stock. Citigroup lifted their target price on Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Finally, Morgan Stanley downgraded Match Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $53.00 to $37.00 in a research note on Thursday, April 18th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Match Group has a consensus 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.