Bank of New York Mellon Corp Purchases 12,379 Shares of Match Group, Inc. (NASDAQ:MTCH)

Bank of New York Mellon Corp boosted its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 0.5% during the second quarter, Holdings Channel.com reports. The fund owned 2,545,805 shares of the technology company’s stock after acquiring an additional 12,379 shares during the quarter. Bank of New York Mellon Corp’s holdings in Match Group were worth $77,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its stake in Match Group by 24.5% during the 1st quarter. Lazard Asset Management LLC now owns 410,938 shares of the technology company’s stock worth $14,908,000 after acquiring an additional 80,855 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Match Group by 54.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 85,777 shares of the technology company’s stock valued at $3,131,000 after buying an additional 30,229 shares in the last quarter. Norges Bank purchased a new stake in Match Group during the 4th quarter valued at approximately $112,903,000. FORA Capital LLC purchased a new stake in Match Group during the 1st quarter valued at approximately $2,410,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Match Group during the 4th quarter valued at approximately $5,503,000. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MTCH. The Goldman Sachs Group increased their price objective on shares of Match Group from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 1st. KeyCorp cut their price objective on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Stifel Nicolaus increased their price objective on shares of Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Hsbc Global Res raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $38.00 target price on shares of Match Group in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Match Group Stock Up 1.2 %

NASDAQ MTCH opened at $37.19 on Friday. The company has a fifty day moving average of $33.60 and a two-hundred day moving average of $33.31. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.72 and a beta of 1.48. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $47.81.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $864.07 million during the quarter, compared to analyst estimates of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. Match Group’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. Equities research analysts anticipate that Match Group, Inc. will post 1.98 EPS for the current year.

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.