Russell Investments Group Ltd. Reduces Stake in Match Group, Inc. (NASDAQ:MTCH)

Russell Investments Group Ltd. reduced its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 24.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 100,552 shares of the technology company's stock after selling 31,905 shares during the period. Russell Investments Group Ltd.'s holdings in Match Group were worth $3,674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Watershed Asset Management L.L.C. bought a new stake in Match Group during the fourth quarter worth about $328,000. South Dakota Investment Council grew its position in Match Group by 141.7% during the fourth quarter. South Dakota Investment Council now owns 8,700 shares of the technology company's stock valued at $318,000 after acquiring an additional 5,100 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Match Group during the fourth quarter worth approximately $55,000. Greenwich Wealth Management LLC lifted its holdings in shares of Match Group by 1.9% in the 4th quarter. Greenwich Wealth Management LLC now owns 19,170 shares of the technology company's stock worth $700,000 after acquiring an additional 361 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of Match Group by 52.9% in the 4th quarter. abrdn plc now owns 133,690 shares of the technology company's stock valued at $4,880,000 after purchasing an additional 46,262 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on MTCH shares. Piper Sandler reissued an "overweight" rating and issued a $45.00 price target on shares of Match Group in a research note on Wednesday, March 27th. TD Cowen dropped their target price on Match Group from $46.00 to $44.00 and set a "buy" rating for the company in a report on Thursday. Citigroup raised their target price on shares of Match Group from $32.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, February 1st. Raymond James assumed coverage on shares of Match Group in a research report on Thursday, April 4th. They issued a "market perform" rating on the stock. Finally, StockNews.com lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.11.

Match Group Stock Up 0.4 %

Shares of NASDAQ:MTCH traded up $0.11 during midday trading on Friday, reaching $30.69. The company's stock had a trading volume of 4,684,404 shares, compared to its average volume of 5,300,215. The firm has a 50 day moving average of $33.43 and a 200-day moving average of $34.23. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $49.24. The firm has a market capitalization of $8.23 billion, a P/E ratio of 13.34, a PEG ratio of 0.50 and a beta of 1.43.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. The firm had revenue of $860.00 million during the quarter, compared to the consensus estimate of $855.77 million. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The company's revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. On average, research analysts predict that Match Group, Inc. will post 2.16 EPS 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.