Bank of Montreal Can Reduces Position in Match Group, Inc. (NASDAQ:MTCH)

Bank of Montreal Can decreased its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 8.2% in the second quarter, HoldingsChannel reports. The fund owned 763,133 shares of the technology company’s stock after selling 68,582 shares during the quarter. Bank of Montreal Can’s holdings in Match Group were worth $24,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. YHB Investment Advisors Inc. bought a new stake in Match Group during the first quarter valued at about $28,000. Mather Group LLC. purchased a new position in shares of Match Group during the 1st quarter valued at about $33,000. Fidelis Capital Partners LLC bought a new position in shares of Match Group during the 1st quarter valued at approximately $33,000. Riverview Trust Co purchased a new stake in Match Group in the 1st quarter worth approximately $57,000. Finally, Sentry Investment Management LLC bought a new stake in Match Group during the 1st quarter worth approximately $57,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $38.00 price objective on shares of Match Group in a research note on Wednesday, July 31st. Evercore ISI raised Match Group to a “strong-buy” rating in a report on Thursday, August 1st. Hsbc Global Res raised Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Truist Financial lifted their target price on Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their price target on Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Match Group presently has an average rating of “Moderate Buy” and a consensus price target of $42.07.

Match Group Stock Up 1.7 %

MTCH stock opened at $37.81 on Friday. The company has a fifty day simple moving average of $35.81 and a two-hundred day simple moving average of $33.38. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $42.42. The firm has a market capitalization of $9.75 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 0.77 and a beta of 1.50.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.48 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 analyst estimates of $856.51 million. During the same quarter last year, the business posted $0.48 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, analysts anticipate 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.