Kornitzer Capital Management Inc. KS Raises Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Kornitzer Capital Management Inc. KS grew its holdings in Match Group, Inc. (NASDAQ:MTCH) by 32.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,500 shares of the technology company’s stock after buying an additional 59,630 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.09% of Match Group worth $8,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MTCH. Moneta Group Investment Advisors LLC boosted its stake in shares of Match Group by 107,412.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock worth $984,604,000 after purchasing an additional 23,709,043 shares during the period. Boston Partners purchased a new stake in Match Group in the 3rd quarter valued at about $276,406,000. Norges Bank purchased a new stake in Match Group in the 4th quarter valued at about $120,129,000. Wellington Management Group LLP boosted its position in Match Group by 34.7% in the 3rd quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after buying an additional 2,130,646 shares during the period. Finally, BlackRock Inc. boosted its position in Match Group by 5.6% in the 1st quarter. BlackRock Inc. now owns 35,749,193 shares of the technology company’s stock valued at $1,372,412,000 after buying an additional 1,889,531 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. KeyCorp boosted their price objective on shares of Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Piper Sandler reissued an “overweight” rating and issued a $45.00 price objective on shares of Match Group in a research report on Wednesday, March 27th. Morgan Stanley cut shares of Match Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $53.00 to $37.00 in a research report on Thursday. Raymond James initiated coverage on shares of Match Group in a report on Thursday, April 4th. They issued a “market perform” rating for the company. Finally, UBS Group boosted their price target on shares of Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.95.

Match Group Price Performance

NASDAQ:MTCH traded down $0.04 during trading hours on Friday, hitting $32.18. 4,043,751 shares of the company were exchanged, compared to its average volume of 4,150,821. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 0.51 and a beta of 1.41. Match Group, Inc. has a 52-week low of $27.85 and a 52-week high of $49.24. The company’s 50 day moving average price is $35.00 and its 200-day moving average price is $34.81.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.32. The company had revenue of $866.00 million for the quarter, compared to the consensus estimate of $861.31 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. Match Group’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, equities analysts predict that Match Group, Inc. will post 2.17 earnings per share for the current year.

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.