Los Angeles Capital Management LLC Takes Position in Match Group, Inc. (NASDAQ:MTCH)

Los Angeles Capital Management LLC bought a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 69,733 shares of the technology company’s stock, valued at approximately $2,639,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP raised its position in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the period. Sentry Investment Management LLC purchased a new stake in shares of Match Group during the first quarter worth about $57,000. Mather Group LLC. raised its position in shares of Match Group by 87.6% during the 2nd quarter. Mather Group LLC. now owns 1,700 shares of the technology company’s stock worth $52,000 after purchasing an additional 794 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Match Group by 433.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after buying an additional 1,500 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Match Group in the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

NASDAQ:MTCH opened at $30.88 on Wednesday. The stock has a market capitalization of $7.96 billion, a P/E ratio of 13.79, a PEG ratio of 0.63 and a beta of 1.51. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The company has a 50 day moving average price of $36.59 and a 200 day moving average price of $33.99.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MTCH. Susquehanna reduced their target price on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. TD Cowen raised their price objective on Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley lowered their target price on shares of Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday. KeyCorp reduced their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, UBS Group lowered their price target on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.73.

About Match Group

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.