Handelsbanken Fonder AB Trims Holdings in Match Group, Inc. (NASDAQ:MTCH)

Handelsbanken Fonder AB reduced its stake in Match Group, Inc. (NASDAQ:MTCH) by 48.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,468 shares of the technology company’s stock after selling 19,013 shares during the quarter. Handelsbanken Fonder AB’s holdings in Match Group were worth $747,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MTCH. Czech National Bank increased its position in Match Group by 47.5% during the third quarter. Czech National Bank now owns 48,615 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 15,650 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Match Group by 5.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 116,415 shares of the technology company’s stock valued at $4,561,000 after buying an additional 5,509 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Match Group by 6.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,678 shares of the technology company’s stock worth $340,000 after buying an additional 530 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Match Group by 24.9% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 63,302 shares of the technology company’s stock valued at $2,480,000 after buying an additional 12,600 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Match Group by 101.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 55,548 shares of the technology company’s stock valued at $2,176,000 after acquiring an additional 28,008 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on MTCH. Raymond James initiated coverage on Match Group in a research report on Thursday, April 4th. They issued a “market perform” rating on the stock. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Piper Sandler restated an “overweight” rating and issued a $45.00 price objective on shares of Match Group in a report on Wednesday, March 27th. Citigroup lifted their target price on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, KeyCorp upped their price target on Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Match Group presently has an average rating of “Hold” and a consensus target price of $43.07.

Match Group Stock Performance

Shares of MTCH opened at $31.53 on Tuesday. Match Group, Inc. has a 1 year low of $27.85 and a 1 year high of $49.24. The stock has a market capitalization of $8.45 billion, a PE ratio of 13.83, a PEG ratio of 0.51 and a beta of 1.41. The stock has a 50-day simple moving average of $34.37 and a 200-day simple moving average of $34.53.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $866.00 million during the quarter, compared to the consensus estimate of $861.31 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts predict that Match Group, Inc. will post 2.16 EPS for the current year.

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.