Match Group, Inc. (NASDAQ:MTCH) Stock Holdings Cut by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 26.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 291,026 shares of the technology company’s stock after selling 102,112 shares during the quarter. Pinnacle Associates Ltd. owned about 0.11% of Match Group worth $10,622,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Life Insurance Co. raised its holdings in shares of Match Group by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after acquiring an additional 297 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after acquiring an additional 299 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Match Group by 4.9% during the first quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock worth $254,000 after acquiring an additional 326 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Match Group by 8.9% during the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after acquiring an additional 357 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after buying an additional 455 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Stock Down 0.1 %

MTCH stock opened at $36.89 on Thursday. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $42.42. The company has a market cap of $9.80 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.77 and a beta of 1.51. The business’s 50-day simple moving average is $37.00 and its 200 day simple moving average is $33.84.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $864.07 million for the quarter, compared to the consensus estimate of $856.51 million. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. On average, equities research analysts anticipate that Match Group, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their target price on Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on Match Group in a report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 target price on the stock. Wells Fargo & Company cut their target price on Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Truist Financial raised their target price on Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.78.

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.