Swiss National Bank Sells 27,400 Shares of Match Group, Inc. (NASDAQ:MTCH)

Swiss National Bank lessened its holdings in Match Group, Inc. (NASDAQ:MTCH) by 3.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 867,971 shares of the technology company’s stock after selling 27,400 shares during the period. Swiss National Bank’s holdings in Match Group were worth $31,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Match Group by 34.7% in the 3rd quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after buying an additional 2,130,646 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Match Group by 5.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock valued at $301,798,000 after purchasing an additional 377,745 shares in the last quarter. Boston Partners bought a new stake in shares of Match Group in the 3rd quarter worth about $276,406,000. Invesco Ltd. increased its position in shares of Match Group by 4.0% during the 3rd quarter. Invesco Ltd. now owns 4,037,684 shares of the technology company’s stock worth $158,176,000 after purchasing an additional 156,465 shares in the last quarter. Finally, FMR LLC lifted its holdings in Match Group by 14.2% during the 3rd quarter. FMR LLC now owns 3,434,071 shares of the technology company’s stock valued at $134,530,000 after purchasing an additional 427,635 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

MTCH opened at $31.51 on Wednesday. The company has a fifty day moving average price of $33.77 and a two-hundred day moving average price of $34.34. The firm has a market capitalization of $8.44 billion, a PE ratio of 13.82, a P/E/G ratio of 0.51 and a beta of 1.43. Match Group, Inc. has a 52 week low of $27.85 and a 52 week high of $49.24.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MTCH. StockNews.com raised shares of Match Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. KeyCorp dropped their price target on Match Group from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley lowered Match Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $53.00 to $37.00 in a research note on Thursday, April 18th. UBS Group raised their target price on Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, Citigroup upped their price target on shares of Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.82.

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.