Nordea Investment Management AB Buys 217,760 Shares of Match Group, Inc. (NASDAQ:MTCH)

Nordea Investment Management AB increased its stake in Match Group, Inc. (NASDAQ:MTCHFree Report) by 20.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,262,946 shares of the technology company’s stock after buying an additional 217,760 shares during the period. Nordea Investment Management AB owned 0.47% of Match Group worth $46,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Match Group in the fourth quarter worth $112,903,000. Bank of Nova Scotia lifted its position in Match Group by 17,295.4% during the 4th quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company’s stock valued at $78,678,000 after acquiring an additional 2,143,240 shares during the period. Wellington Management Group LLP boosted its stake in Match Group by 34.7% during the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock worth $324,174,000 after acquiring an additional 2,130,646 shares in the last quarter. Kodai Capital Management LP purchased a new stake in Match Group in the fourth quarter worth about $47,613,000. Finally, Schroder Investment Management Group increased its stake in shares of Match Group by 290.8% during the fourth quarter. Schroder Investment Management Group now owns 1,566,334 shares of the technology company’s stock valued at $57,171,000 after purchasing an additional 1,165,576 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Up 2.7 %

Match Group stock opened at $30.20 on Tuesday. The business has a 50-day simple moving average of $30.66 and a two-hundred day simple moving average of $33.77. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $49.24. The company has a market cap 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.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on MTCH. TD Cowen dropped their price target on Match Group from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Wells Fargo & Company cut their target price on Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Match Group from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Raymond James assumed coverage on shares of Match Group in a research report on Thursday, April 4th. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group reduced their price objective on shares of Match Group from $47.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

View Our Latest Analysis on MTCH

Match Group Profile

(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.

Recommended Stories

Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group, Inc. (NASDAQ:MTCHFree Report).

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

Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.