Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. trimmed its holdings in Match Group, Inc. (NASDAQ:MTCH) by 17.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,037 shares of the technology company’s stock after selling 6,569 shares during the period. Panagora Asset Management Inc.’s holdings in Match Group were worth $913,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MTCH. YHB Investment Advisors Inc. acquired a new position in shares of Match Group in the 1st quarter valued at approximately $28,000. Principal Securities Inc. acquired a new position in shares of Match Group in the 4th quarter valued at approximately $31,000. Mather Group LLC. acquired a new position in shares of Match Group in the 1st quarter valued at approximately $33,000. Fidelis Capital Partners LLC acquired a new position in shares of Match Group in the 1st quarter valued at approximately $33,000. Finally, Riverview Trust Co acquired a new position in shares of Match Group in the 1st quarter valued at approximately $57,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MTCH shares. Evercore ISI raised Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Morgan Stanley dropped their price target on Match Group from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen upped their price target on Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus upped their price target on Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.07.

Match Group Stock Performance

NASDAQ:MTCH opened at $37.21 on Monday. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $47.81. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 0.77 and a beta of 1.48. The business has a fifty day moving average of $33.87 and a 200-day moving average of $33.30.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The company had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $856.51 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Match Group, Inc. will post 1.98 EPS for the current year.

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.