abrdn plc Purchases 46,262 Shares of Match Group, Inc. (NASDAQ:MTCH)

abrdn plc raised its position in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 52.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,690 shares of the technology company's stock after purchasing an additional 46,262 shares during the period. abrdn plc's holdings in Match Group were worth $4,880,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Boston Partners purchased a new stake in shares of Match Group during the 3rd quarter valued at $276,406,000. Wellington Management Group LLP raised its position in shares of Match Group by 34.7% during 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 in the last quarter. Scharf Investments LLC purchased a new stake in shares of Match Group during the 4th quarter valued at $31,526,000. Charles Schwab Investment Management Inc. raised its position in shares of Match Group by 47.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,415,658 shares of the technology company's stock valued at $94,633,000 after buying an additional 775,083 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Match Group by 237.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 929,700 shares of the technology company's stock valued at $36,421,000 after buying an additional 654,105 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Match Group from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, February 1st. UBS Group lifted their target price on shares of Match Group from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, January 26th. Morgan Stanley cut shares of Match Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $53.00 to $37.00 in a research report on Thursday, April 18th. StockNews.com cut shares of Match Group from a "buy" rating to a "hold" rating in a research report on Thursday, April 4th. Finally, Citigroup lifted their target price on shares of Match Group from $32.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, February 1st. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Match Group currently has an average rating of "Hold" and a consensus price target of $43.07.

Match Group Price Performance

Match Group stock traded up $0.20 during trading hours on Friday, reaching $31.89. The stock had a trading volume of 2,583,090 shares, compared to its average volume of 3,808,691. The stock has a market cap of $8.55 billion, a PE ratio of 13.99, 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 has a fifty day simple moving average of $34.49 and a 200-day simple moving average of $34.57.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.32. The firm had revenue of $866.00 million for the quarter, compared to analyst estimates of $861.31 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. Research analysts predict that Match Group, Inc. will post 2.16 earnings per share for the current fiscal year.

Match Group Company 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.