Mackenzie Financial Corp Trims Stake in Match Group, Inc. (NASDAQ:MTCH)

Mackenzie Financial Corp decreased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 15.1% during the fourth quarter, Holdings Channel reports. The fund owned 9,953 shares of the technology company’s stock after selling 1,773 shares during the period. Mackenzie Financial Corp’s holdings in Match Group were worth $363,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. VisionPoint Advisory Group LLC purchased a new stake in shares of Match Group in the 3rd quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Match Group by 46.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the technology company’s stock worth $42,000 after buying an additional 361 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Match Group by 432.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,341 shares of the technology company’s stock worth $49,000 after buying an additional 1,089 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Match Group in the 3rd quarter worth approximately $62,000. Finally, Global Retirement Partners LLC grew its stake in shares of Match Group by 23.5% in the 4th quarter. Global Retirement Partners LLC now owns 2,152 shares of the technology company’s stock worth $79,000 after buying an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MTCH. Morgan Stanley downgraded Match Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $53.00 to $37.00 in a research note on Thursday, April 18th. JPMorgan Chase & Co. cut their price target on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. UBS Group upped their price target on Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, KeyCorp upped their price objective on Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.07.

Match Group Price Performance

NASDAQ MTCH opened at $31.89 on Friday. The business’s fifty day moving average price is $34.49 and its 200-day moving average price is $34.59. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.51 and a beta of 1.41. Match Group, Inc. has a 1-year low of $27.85 and a 1-year high of $49.24.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.32. The firm had revenue of $866.00 million for 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 revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. Equities research analysts anticipate that Match Group, Inc. will post 2.16 EPS for the current year.

Match Group Profile

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.