Healthcare of Ontario Pension Plan Trust Fund Cuts Position in Match Group, Inc. (NASDAQ:MTCH)

Healthcare of Ontario Pension Plan Trust Fund decreased its position in Match Group, Inc. (NASDAQ:MTCH) by 58.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 256,400 shares of the technology company’s stock after selling 358,150 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.10% of Match Group worth $7,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in shares of Match Group by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 430,270 shares of the technology company’s stock worth $15,705,000 after acquiring an additional 1,674 shares during the period. Campbell & CO Investment Adviser LLC increased its position in shares of Match Group by 46.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 12,404 shares of the technology company’s stock worth $453,000 after acquiring an additional 3,943 shares during the period. Rafferty Asset Management LLC grew its stake in shares of Match Group by 22.6% during the fourth quarter. Rafferty Asset Management LLC now owns 83,246 shares of the technology company’s stock worth $3,038,000 after purchasing an additional 15,338 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Match Group by 7.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 111,124 shares of the technology company’s stock worth $4,056,000 after purchasing an additional 8,118 shares in the last quarter. Finally, Cibc World Markets Corp grew its stake in shares of Match Group by 34.6% during the fourth quarter. Cibc World Markets Corp now owns 190,142 shares of the technology company’s stock worth $6,940,000 after purchasing an additional 48,880 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

MTCH opened at $37.60 on Friday. The company has a 50-day moving average of $36.26 and a 200-day moving average of $33.53. The company has a market capitalization of $9.99 billion, a P/E ratio of 16.35, a PEG ratio of 0.78 and a beta of 1.51. Match Group, Inc. has a 1-year low of $27.66 and a 1-year 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, meeting the consensus estimate 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 analyst estimates of $856.51 million. During the same period in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Match Group, Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTCH. TD Cowen boosted their target price 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. StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Wolfe Research initiated coverage on shares of Match Group in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 price objective for the company. Citigroup upped their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, 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. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

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.