Match Group, Inc. (NASDAQ:MTCH) Shares Sold by abrdn plc

abrdn plc decreased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 75.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,373 shares of the technology company’s stock after selling 66,951 shares during the quarter. abrdn plc’s holdings in Match Group were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Match Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock valued at $1,173,966,000 after acquiring an additional 416,140 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after purchasing an additional 2,940,667 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in Match Group by 30.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock valued at $148,034,000 after acquiring an additional 943,894 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Match Group during the 2nd quarter worth $100,848,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Match Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock valued at $77,342,000 after buying an additional 12,379 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTCH. TD Cowen raised their price objective on shares of Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Hsbc Global Res upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. HSBC raised shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price target for the company in a research report on Monday, August 5th. The Goldman Sachs Group upped their target price on Match Group from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada upped their price target on Match Group from $33.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.58.

Match Group Stock Performance

Match Group stock opened at $36.23 on Tuesday. The business’s fifty day moving average is $36.93 and its two-hundred day moving average is $33.93. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $42.42. The firm has a market cap of $9.34 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.75 and a beta of 1.51.

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.