BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stake in Match Group, Inc. (NASDAQ:MTCH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in Match Group, Inc. (NASDAQ:MTCH) by 56.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,374 shares of the technology company’s stock after selling 66,044 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Match Group were worth $1,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MTCH. YHB Investment Advisors Inc. purchased a new stake in Match Group during the 1st quarter worth about $28,000. Mather Group LLC. purchased a new position in shares of Match Group in the 1st quarter valued at approximately $33,000. Fidelis Capital Partners LLC purchased a new position in Match Group in the 1st quarter valued at $33,000. Riverview Trust Co acquired a new position in shares of Match Group during the first quarter worth about $57,000. Finally, Sentry Investment Management LLC purchased a new position in Match Group during the first quarter worth about $57,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 1.7 %

Shares of MTCH opened at $37.81 on Monday. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.77 and a beta of 1.50. The business’s 50 day moving average is $35.87 and its two-hundred day moving average is $33.40. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $42.42.

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

Analyst Ratings Changes

MTCH has been the subject of several recent analyst reports. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Evercore ISI raised Match Group to a “strong-buy” rating in a research note on Thursday, August 1st. Truist Financial lifted their target price on shares of Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley dropped their price objective on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Wolfe Research began coverage on shares of Match Group in a research note on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price objective for the company. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

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.