Match Group, Inc. (NASDAQ:MTCH) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,593 shares of the technology company’s stock after selling 9,340 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Match Group worth $8,158,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MTCH. Sumitomo Life Insurance Co. lifted its position in shares of Match Group by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after acquiring an additional 297 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after purchasing an additional 299 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Match Group by 8.9% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock valued at $133,000 after purchasing an additional 357 shares during the period. Empirical Finance LLC increased its stake in Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after purchasing an additional 384 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Match Group by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after buying an additional 455 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now directly owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.77% of the company’s stock.

Match Group Stock Performance

Shares of MTCH stock opened at $32.85 on Wednesday. The firm has a fifty day moving average of $35.17 and a 200-day moving average of $34.04. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 0.92 and a beta of 1.47. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $42.42.

Wall Street Analysts Forecast Growth

MTCH has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Match Group from $36.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. KeyCorp decreased their price objective on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Royal Bank of Canada lowered their price objective on shares of Match Group from $47.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Bank of America reiterated a “neutral” rating and issued a $35.00 target price (down previously from $50.00) on shares of Match Group in a research report on Thursday, November 7th. Finally, Wells Fargo & Company lowered 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 report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.73.

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.