Ieq Capital LLC Decreases Stake in Match Group, Inc. (NASDAQ:MTCH)

Ieq Capital LLC cut its stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 67.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,267 shares of the technology company's stock after selling 25,566 shares during the quarter. Ieq Capital LLC's holdings in Match Group were worth $448,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MTCH. Boston Partners purchased a new stake in shares of Match Group during the third quarter worth $276,406,000. Wellington Management Group LLP boosted its holdings 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 worth $324,174,000 after purchasing an additional 2,130,646 shares during the last quarter. Scharf Investments LLC purchased a new stake in shares of Match Group in the fourth quarter valued at approximately $31,526,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Match Group by 47.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,415,658 shares of the technology company's stock valued at $94,633,000 after purchasing an additional 775,083 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Match Group by 237.3% during the third quarter. Canada Pension Plan Investment Board now owns 929,700 shares of the technology company's stock worth $36,421,000 after buying an additional 654,105 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MTCH shares. Wells Fargo & Company lowered their price target on shares of Match Group from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 9th. JPMorgan Chase & Co. dropped their price target on shares of Match Group from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, February 1st. Raymond James assumed coverage on shares of Match Group in a research report on Thursday, April 4th. They set a "market perform" rating on the stock. Royal Bank of Canada lowered their price objective on Match Group from $43.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, May 9th. Finally, Citigroup lifted their target price on Match Group from $32.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $42.43.

Match Group Stock Performance

Shares of NASDAQ:MTCH traded down $0.15 during trading on Friday, hitting $31.21. The company's stock had a trading volume of 2,876,814 shares, compared to its average volume of 5,704,534. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $49.24. The business has a 50 day moving average price of $33.14 and a two-hundred day moving average price of $34.12. The company has a market capitalization of $8.29 billion, a PE ratio of 13.57, a P/E/G ratio of 0.53 and a beta of 1.43.

Match Group (NASDAQ:MTCH - Get Free Report) last released 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 firm had revenue of $860.00 million during the quarter, compared to analysts' expectations of $855.77 million. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. Match Group's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. As a group, equities analysts expect that Match Group, Inc. will post 2.11 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.