Portolan Capital Management LLC Buys Shares of 173,414 Match Group, Inc. (NASDAQ:MTCH)

Portolan Capital Management LLC acquired a new stake in Match Group, Inc. (NASDAQ:MTCH) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 173,414 shares of the technology company’s stock, valued at approximately $6,562,000. Portolan Capital Management LLC owned about 0.07% of Match Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MTCH. Starboard Value LP acquired a new stake in Match Group during the 3rd quarter worth $361,605,000. Versor Investments LP lifted its stake in Match Group by 301.7% in the third quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock valued at $1,824,000 after buying an additional 36,200 shares in the last quarter. Aviance Capital Partners LLC acquired a new position in shares of Match Group in the third quarter valued at approximately $2,170,000. Mawer Investment Management Ltd. increased its position in shares of Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock worth $24,344,000 after acquiring an additional 267,890 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Match Group by 98.0% during the first quarter. Cetera Investment Advisers now owns 79,526 shares of the technology company’s stock worth $2,885,000 after acquiring an additional 39,357 shares during the period. Institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 1.1 %

NASDAQ MTCH opened at $32.85 on Wednesday. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $42.42. The company has a 50 day moving average of $35.17 and a 200-day moving average of $34.04. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.92 and a beta of 1.47.

Analyst Ratings Changes

MTCH has been the topic of a number of research reports. Bank of America restated a “neutral” rating and issued a $35.00 price target (down from $50.00) on shares of Match Group in a report on Thursday, November 7th. Barclays decreased their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Truist Financial reduced their target price on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, November 8th. Wells Fargo & Company cut their price target on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Finally, Susquehanna decreased their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.73.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company’s stock.

About Match Group

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.