Allspring Global Investments Holdings LLC Raises Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Allspring Global Investments Holdings LLC raised its stake in shares of Match Group, Inc. (NASDAQ:MTCHFree Report) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,240 shares of the technology company’s stock after purchasing an additional 2,291 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Match Group were worth $698,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its position in Match Group by 54.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 85,777 shares of the technology company’s stock valued at $3,131,000 after purchasing an additional 30,229 shares during the period. Norges Bank purchased a new stake in shares of Match Group in the 4th quarter worth about $112,903,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Match Group in the 4th quarter worth about $5,503,000. Nordea Investment Management AB grew its position in shares of Match Group by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,045,186 shares of the technology company’s stock worth $37,961,000 after buying an additional 191,615 shares during the period. Finally, Scharf Investments LLC purchased a new stake in shares of Match Group in the 4th quarter worth about $31,526,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Performance

MTCH opened at $30.20 on Tuesday. The stock has a market capitalization of $8.02 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.49 and a beta of 1.49. The company’s 50-day simple moving average is $30.66 and its two-hundred day simple moving average is $33.77. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $49.24.

Match Group (NASDAQ:MTCHGet Free Report) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The business had revenue of $860.00 million for the quarter, compared to analysts’ expectations of $855.77 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts forecast that Match Group, Inc. will post 2.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Match Group in a research report on Wednesday, March 27th. Royal Bank of Canada reduced their target price on shares of Match Group from $43.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. UBS Group reduced their target price on shares of Match Group from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. KeyCorp reduced 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, May 6th. Finally, Wells Fargo & Company cut their price objective on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.67.

Check Out Our Latest Research Report on Match Group

About Match Group

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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