NewEdge Wealth LLC Invests $240,000 in Match Group, Inc. (NASDAQ:MTCH)

NewEdge Wealth LLC purchased a new position in shares of Match Group, Inc. (NASDAQ:MTCH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,576 shares of the technology company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTCH. Acadian Asset Management LLC grew its holdings in shares of Match Group by 73.8% during the first quarter. Acadian Asset Management LLC now owns 2,082 shares of the technology company’s stock worth $224,000 after purchasing an additional 884 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Match Group by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 840,248 shares of the technology company’s stock valued at $91,374,000 after acquiring an additional 26,902 shares during the last quarter. Aviva PLC boosted its holdings in Match Group by 4.0% in the first quarter. Aviva PLC now owns 90,746 shares of the technology company’s stock valued at $9,868,000 after acquiring an additional 3,455 shares during the last quarter. Prudential PLC bought a new stake in Match Group in the first quarter valued at approximately $279,000. Finally, Vanguard Group Inc. boosted its holdings in Match Group by 1.7% in the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock valued at $3,170,951,000 after acquiring an additional 500,418 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MTCH. Morgan Stanley cut Match Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $53.00 to $37.00 in a report on Thursday. JPMorgan Chase & Co. reduced their target price on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Piper Sandler reiterated an “overweight” rating and issued a $45.00 target price on shares of Match Group in a report on Wednesday, March 27th. KeyCorp increased their price target on Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Raymond James initiated coverage on Match Group in a report on Thursday, April 4th. They set a “market perform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.95.

Match Group Stock Down 0.2 %

Shares of NASDAQ:MTCH opened at $32.22 on Friday. Match Group, Inc. has a twelve month low of $27.85 and a twelve month high of $49.24. The stock’s 50 day moving average is $35.06 and its 200-day moving average is $34.85. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 0.51 and a beta of 1.41.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.32. The company had revenue of $866.00 million for the quarter, compared to analyst estimates of $861.31 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. Match Group’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Equities research analysts anticipate that Match Group, Inc. will post 2.17 earnings per share for the current fiscal year.

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.