Kentucky Retirement Systems Trims Stake in Match Group, Inc. (NASDAQ:MTCH)

Kentucky Retirement Systems trimmed its stake in Match Group, Inc. (NASDAQ:MTCH) by 5.9% in the 4th quarter, HoldingsChannel reports. The firm owned 21,748 shares of the technology company’s stock after selling 1,361 shares during the period. Kentucky Retirement Systems’ holdings in Match Group were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of 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 worth $324,174,000 after purchasing an additional 2,130,646 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Match Group by 5.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock worth $301,798,000 after purchasing an additional 377,745 shares in the last quarter. Boston Partners purchased a new stake in Match Group in the 3rd quarter worth $276,406,000. Invesco Ltd. increased its stake in Match Group by 4.0% in the 3rd quarter. Invesco Ltd. now owns 4,037,684 shares of the technology company’s stock worth $158,176,000 after buying an additional 156,465 shares in the last quarter. Finally, FMR LLC increased its stake in Match Group by 14.2% in the 3rd quarter. FMR LLC now owns 3,434,071 shares of the technology company’s stock worth $134,530,000 after buying an additional 427,635 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Trading Down 1.2 %

Shares of NASDAQ:MTCH opened at $30.03 on Wednesday. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $49.24. The company has a 50-day moving average price of $32.99 and a 200 day moving average price of $34.17. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The firm had revenue of $860.00 million during the quarter, compared to the consensus estimate of $855.77 million. During the same quarter last year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities analysts forecast that Match Group, Inc. will post 2.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTCH shares. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company cut their price target on Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Susquehanna cut their price target on Match Group from $46.00 to $45.00 and set a “positive” rating for the company in a research note on Monday, May 13th. The Goldman Sachs Group dropped their price objective on shares of Match Group from $47.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.43.

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.