Allspring Global Investments Holdings LLC Sells 2,324,884 Shares of Match Group, Inc. (NASDAQ:MTCH)

Allspring Global Investments Holdings LLC trimmed its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 99.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,949 shares of the technology company's stock after selling 2,324,884 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Match Group were worth $619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Metis Global Partners LLC boosted its position in Match Group by 17.7% during the third quarter. Metis Global Partners LLC now owns 11,767 shares of the technology company's stock worth $461,000 after acquiring an additional 1,770 shares during the last quarter. Nordea Investment Management AB raised its stake in Match Group by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,045,186 shares of the technology company's stock worth $37,961,000 after purchasing an additional 191,615 shares during the period. Scharf Investments LLC purchased a new position in Match Group during the fourth quarter worth approximately $31,526,000. American Century Companies Inc. raised its stake in Match Group by 13.9% during the third quarter. American Century Companies Inc. now owns 1,509,954 shares of the technology company's stock worth $59,152,000 after purchasing an additional 184,325 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Match Group by 4,348.2% during the fourth quarter. International Assets Investment Management LLC now owns 79,935 shares of the technology company's stock worth $2,918,000 after purchasing an additional 78,138 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Trading Up 0.6 %

NASDAQ:MTCH traded up $0.20 during mid-day trading on Friday, hitting $31.89. The stock had a trading volume of 2,582,714 shares, compared to its average volume of 5,676,906. Match Group, Inc. has a 52 week low of $27.85 and a 52 week high of $49.24. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 0.51 and a beta of 1.41. The company has a 50 day simple moving average of $34.49 and a 200-day simple moving average of $34.62.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.32. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The company had revenue of $866.00 million for the quarter, compared to the consensus estimate of $861.31 million. During the same period in the previous year, the firm earned $0.30 EPS. Match Group's revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Match Group, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTCH. StockNews.com downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, April 4th. Citigroup increased their price target on shares of Match Group from $32.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, February 1st. Piper Sandler reaffirmed an "overweight" rating and set a $45.00 price target on shares of Match Group in a research note on Wednesday, March 27th. JPMorgan Chase & Co. cut their price target on shares of Match Group from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, February 1st. Finally, UBS Group raised their target price on shares of Match Group from $35.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, January 26th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $43.07.

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.