Federated Hermes Inc. Cuts Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Federated Hermes Inc. cut its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 25.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,152 shares of the technology company’s stock after selling 4,795 shares during the period. Federated Hermes Inc.’s holdings in Match Group were worth $430,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

MTCH has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. HSBC raised Match Group from a “hold” rating to a “buy” rating and set a $43.20 target price for the company in a research report on Monday, August 5th. Wolfe Research initiated coverage on Match Group in a report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 target price on the stock. Hsbc Global Res upgraded Match Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.07.

Match Group Price Performance

Match Group stock opened at $36.77 on Tuesday. The company has a market cap of $9.77 billion, a PE ratio of 15.99, a P/E/G ratio of 0.72 and a beta of 1.50. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $42.42. The company has a fifty day moving average price of $35.68 and a two-hundred day moving average price of $33.30.

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