Kentucky Retirement Systems Insurance Trust Fund Lowers Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,970 shares of the technology company’s stock after selling 714 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Match Group were worth $325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. YHB Investment Advisors Inc. purchased a new position in shares of Match Group in the first quarter valued at approximately $28,000. Principal Securities Inc. acquired a new stake in Match Group in the fourth quarter valued at approximately $31,000. Mather Group LLC. acquired a new stake in Match Group in the first quarter valued at approximately $33,000. Fidelis Capital Partners LLC acquired a new stake in Match Group in the first quarter valued at approximately $33,000. Finally, GAMMA Investing LLC acquired a new stake in Match Group in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Match Group from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. UBS Group reduced their target price on shares of Match Group from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Wolfe Research assumed coverage on shares of Match Group in a report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 target price on the stock. Morgan Stanley reduced their target price on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, KeyCorp cut their price objective on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Match Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.79.

Match Group Price Performance

Shares of NASDAQ MTCH traded up $0.12 during trading on Monday, hitting $33.37. 1,177,426 shares of the company were exchanged, compared to its average volume of 5,617,577. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.56 and a beta of 1.49. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $49.24. The firm’s fifty day moving average price is $31.23 and its 200 day moving average price is $33.44.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04. The company had revenue of $860.00 million for the quarter, compared to analyst estimates of $855.77 million. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. On average, research analysts forecast that Match Group, Inc. will post 2.11 earnings per share for the current year.

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.