California Public Employees Retirement System Has $18.27 Million Position in Match Group, Inc. (NASDAQ:MTCH)

California Public Employees Retirement System cut its position in Match Group, Inc. (NASDAQ:MTCH) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 500,477 shares of the technology company’s stock after selling 14,814 shares during the period. California Public Employees Retirement System’s holdings in Match Group were worth $18,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenwich Wealth Management LLC lifted its holdings in shares of Match Group by 1.9% during the 4th quarter. Greenwich Wealth Management LLC now owns 19,170 shares of the technology company’s stock valued at $700,000 after purchasing an additional 361 shares in the last quarter. abrdn plc lifted its stake in Match Group by 52.9% in the fourth quarter. abrdn plc now owns 133,690 shares of the technology company’s stock valued at $4,880,000 after buying an additional 46,262 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Match Group by 32.3% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 244,500 shares of the technology company’s stock valued at $8,924,000 after buying an additional 59,630 shares during the period. Cornerstone Investment Partners LLC increased its position in shares of Match Group by 29.0% during the fourth quarter. Cornerstone Investment Partners LLC now owns 15,588 shares of the technology company’s stock worth $569,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Match Group by 50.0% during the fourth quarter. Strs Ohio now owns 97,500 shares of the technology company’s stock worth $3,558,000 after acquiring an additional 32,500 shares during the period. 94.05% of the stock is owned by institutional investors.

Match Group Stock Down 1.1 %

MTCH opened at $31.53 on Tuesday. Match Group, Inc. has a 12-month low of $27.85 and a 12-month high of $49.24. The business has a 50 day moving average of $34.37 and a 200-day moving average of $34.53. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.51 and a beta of 1.41.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MTCH shares. Citigroup upped their target price on shares of Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price on shares of Match Group in a research report on Wednesday, March 27th. JPMorgan Chase & Co. reduced their price target on Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Morgan Stanley downgraded shares of Match Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $53.00 to $37.00 in a report on Thursday, April 18th. Finally, UBS Group increased their target price on shares of Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.07.

Match Group Company 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.