Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Match Group, Inc. (NASDAQ:MTCH) by 99.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,949 shares of the technology company’s stock after selling 2,324,884 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Match Group were worth $619,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Caprock Group LLC boosted its stake in shares of Match Group by 22.7% during the 3rd quarter. Caprock Group LLC now owns 7,518 shares of the technology company’s stock worth $295,000 after acquiring an additional 1,393 shares in the last quarter. Czech National Bank boosted its position in shares of Match Group by 47.5% in the 3rd quarter. Czech National Bank now owns 48,615 shares of the technology company’s stock valued at $1,904,000 after purchasing an additional 15,650 shares during the period. Asset Management One Co. Ltd. increased its stake in Match Group by 5.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 116,415 shares of the technology company’s stock worth $4,561,000 after purchasing an additional 5,509 shares in the last quarter. Penn Davis Mcfarland Inc. increased its stake in Match Group by 67.1% in the 3rd quarter. Penn Davis Mcfarland Inc. now owns 369,710 shares of the technology company’s stock worth $14,483,000 after purchasing an additional 148,488 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Match Group by 6.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,678 shares of the technology company’s stock worth $340,000 after buying an additional 530 shares during the period. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $31.69 on Friday. The business has a 50 day simple moving average of $34.61 and a 200 day simple moving average of $34.65. Match Group, Inc. has a 52 week low of $27.85 and a 52 week high of $49.24. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 0.51 and a beta of 1.41.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTCH. Citigroup lifted their target price on shares of Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. KeyCorp boosted their target price on shares of Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Piper Sandler reissued an “overweight” rating and set a $45.00 price target on shares of Match Group in a research report on Wednesday, March 27th. Finally, Raymond James started coverage on Match Group in a research report on Thursday, April 4th. They set a “market perform” rating for the company. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company 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.