Wittenberg Investment Management Inc. Lowers Position in Match Group, Inc. (NASDAQ:MTCH)

Wittenberg Investment Management Inc. decreased its stake in Match Group, Inc. (NASDAQ:MTCH) by 8.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,700 shares of the technology company’s stock after selling 2,000 shares during the quarter. Wittenberg Investment Management Inc.’s holdings in Match Group were worth $908,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MTCH. Capital Advisors Ltd. LLC purchased a new position in shares of Match Group during the 2nd quarter valued at $28,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Match Group by 53.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 716 shares of the technology company’s stock valued at $30,000 after acquiring an additional 248 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. boosted its stake in shares of Match Group by 683.6% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 956 shares of the technology company’s stock worth $40,000 after acquiring an additional 834 shares during the period. AM Squared Ltd purchased a new stake in shares of Match Group during the first quarter worth about $46,000. Finally, Harbour Investments Inc. grew its holdings in shares of Match Group by 44.6% in the first quarter. Harbour Investments Inc. now owns 1,216 shares of the technology company’s stock valued at $47,000 after purchasing an additional 375 shares in the last quarter. Institutional investors own 93.56% of the company’s stock.

Match Group Stock Down 2.1 %

NASDAQ:MTCH traded down $0.68 during midday trading on Tuesday, hitting $31.91. The stock had a trading volume of 366,097 shares, compared to its average volume of 4,776,442. The stock has a 50-day moving average of $36.14 and a 200 day moving average of $39.70. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.55 and a beta of 1.41. Match Group, Inc. has a one year low of $27.85 and a one year high of $54.60.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, October 31st. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The business had revenue of $882.00 million for the quarter, compared to the consensus estimate of $879.85 million. Match Group had a negative return on equity of 173.16% and a net margin of 15.42%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. On average, sell-side analysts anticipate that Match Group, Inc. will post 1.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several research reports. Truist Financial lowered their price objective on shares of Match Group from $50.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, November 3rd. KeyCorp lowered their price target on shares of Match Group from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Morgan Stanley reduced their price objective on Match Group from $97.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Barclays lowered their price objective on Match Group from $56.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Finally, StockNews.com raised Match Group from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Insiders Place Their Bets

In related news, Director Glenn Schiffman acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were bought at an average price of $29.11 per share, with a total value of $116,440.00. Following the completion of the transaction, the director now directly owns 22,243 shares in the company, valued at $647,493.73. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 1,500 shares of company stock worth $58,315 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Match Group Company Profile

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, The League, Azar, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and Hakuna, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.