Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 4.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 59,905 shares of the technology company’s stock after selling 2,972 shares during the period. Retirement Systems of Alabama’s holdings in Match Group were worth $2,187,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MTCH. Commonwealth Equity Services LLC raised its holdings in shares of Match Group by 6.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,678 shares of the technology company’s stock valued at $340,000 after purchasing an additional 530 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Match Group by 25.7% in the 3rd quarter. Raymond James & Associates now owns 314,969 shares of the technology company’s stock valued at $12,339,000 after purchasing an additional 64,334 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Match Group by 266.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,376 shares of the technology company’s stock valued at $1,503,000 after purchasing an additional 27,916 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Match Group by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,573,079 shares of the technology company’s stock valued at $100,800,000 after purchasing an additional 51,914 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Match Group by 23.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 194,357 shares of the technology company’s stock valued at $7,614,000 after purchasing an additional 37,091 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Down 5.4 %

Shares of NASDAQ MTCH opened at $29.82 on Thursday. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $49.24. The firm has a 50-day moving average price of $33.77 and a 200 day moving average price of $34.34. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The firm had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts expect that Match Group, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MTCH has been the topic of a number of analyst reports. Raymond James initiated coverage on shares of Match Group in a report on Thursday, April 4th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. KeyCorp dropped their target price on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday. Morgan Stanley downgraded shares of Match Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $53.00 to $37.00 in a research report on Thursday, April 18th. Finally, StockNews.com raised shares of Match Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.82.

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.