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

Allspring Global Investments Holdings LLC cut its holdings in Match Group, Inc. (NASDAQ:MTCH) by 99.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,949 shares of the technology company’s stock after selling 2,324,884 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Match Group were worth $619,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in Match Group during the third quarter worth $276,406,000. Wellington Management Group LLP increased its position in Match Group by 34.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock worth $324,174,000 after purchasing an additional 2,130,646 shares in the last quarter. Scharf Investments LLC acquired a new position in Match Group in the 4th quarter valued at about $31,526,000. Charles Schwab Investment Management Inc. lifted its holdings in Match Group by 47.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,415,658 shares of the technology company’s stock valued at $94,633,000 after purchasing an additional 775,083 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Match Group by 237.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 929,700 shares of the technology company’s stock worth $36,421,000 after purchasing an additional 654,105 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Performance

NASDAQ MTCH opened at $31.69 on Friday. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 0.51 and a beta of 1.41. Match Group, Inc. has a one year low of $27.85 and a one year high of $49.24. The company’s 50 day moving average price is $34.61 and its 200 day moving average price is $34.65.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MTCH shares. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Citigroup boosted their price target on Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. decreased their price objective on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Match Group in a research report on Wednesday, March 27th. Finally, Morgan Stanley downgraded Match Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $53.00 to $37.00 in a research report on Thursday, April 18th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Match Group has an average rating of “Hold” and an average target price of $43.07.

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.