Raymond James Financial Services Advisors Inc. Trims Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Raymond James Financial Services Advisors Inc. trimmed its position in Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,655 shares of the technology company’s stock after selling 15,754 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Match Group were worth $2,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amica Retiree Medical Trust lifted its holdings in shares of Match Group by 62.3% during the fourth quarter. Amica Retiree Medical Trust now owns 14,169 shares of the technology company’s stock valued at $588,000 after purchasing an additional 5,439 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Match Group in the fourth quarter valued at about $50,000. Amica Mutual Insurance Co. lifted its holdings in Match Group by 51.6% in the fourth quarter. Amica Mutual Insurance Co. now owns 110,111 shares of the technology company’s stock valued at $4,569,000 after acquiring an additional 37,461 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in Match Group by 2.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 51,420 shares of the technology company’s stock valued at $2,133,000 after acquiring an additional 1,029 shares during the period. Finally, Glenview Trust Co lifted its holdings in Match Group by 49.7% in the fourth quarter. Glenview Trust Co now owns 24,178 shares of the technology company’s stock valued at $1,003,000 after acquiring an additional 8,030 shares during the period. 93.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jared F. Sine sold 7,110 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $41.27, for a total transaction of $293,429.70. Following the completion of the sale, the insider now directly owns 60,379 shares of the company’s stock, valued at approximately $2,491,841.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Match Group Price Performance

NASDAQ:MTCH opened at $33.98 on Tuesday. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 0.64 and a beta of 1.34. Match Group, Inc. has a 1 year low of $30.73 and a 1 year high of $87.46. The business has a 50 day simple moving average of $35.37 and a 200-day simple moving average of $41.62.

Match Group (NASDAQ:MTCH – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Match Group had a negative return on equity of 116.87% and a net margin of 9.51%. The firm had revenue of $787.12 million during the quarter, compared to analyst estimates of $794.06 million. During the same period last year, the company earned $0.60 EPS. Match Group’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, analysts expect that Match Group, Inc. will post 2.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup lowered their target price on Match Group from $40.00 to $38.00 in a report on Thursday, May 4th. Oppenheimer cut Match Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 1st. Barclays reduced their price target on Match Group from $52.00 to $50.00 in a research report on Thursday, May 4th. StockNews.com began coverage on Match Group in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Cowen reduced their price target on Match Group from $80.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, February 2nd. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.14.

About Match Group

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Match Group, Inc engages in the provision of dating products. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.