Match Group, Inc. (NASDAQ:MTCH) Shares Acquired by Lord Abbett & CO. LLC


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Lord Abbett & CO. LLC grew its holdings in Match Group, Inc. (NASDAQ:MTCH) by 23.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,161,503 shares of the technology company’s stock after buying an additional 221,657 shares during the period. Lord Abbett & CO. LLC owned 0.44% of Match Group worth $175,608,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Candriam Luxembourg S.C.A. raised its position in shares of Match Group by 8.5% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 12,654 shares of the technology company’s stock valued at $1,913,000 after buying an additional 991 shares during the last quarter. IBM Retirement Fund increased its position in Match Group by 14.4% during the fourth quarter. IBM Retirement Fund now owns 8,139 shares of the technology company’s stock worth $1,231,000 after purchasing an additional 1,025 shares during the last quarter. Capital Planning Advisors LLC increased its position in Match Group by 7.4% during the fourth quarter. Capital Planning Advisors LLC now owns 18,767 shares of the technology company’s stock worth $2,837,000 after purchasing an additional 1,288 shares during the last quarter. First Hawaiian Bank acquired a new stake in Match Group during the fourth quarter worth about $1,418,000. Finally, State Board of Administration of Florida Retirement System increased its position in Match Group by 3.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 311,663 shares of the technology company’s stock worth $47,120,000 after purchasing an additional 10,409 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

Match Group stock traded down $2.69 during trading on Tuesday, reaching $154.02. The stock had a trading volume of 63 shares, compared to its average volume of 3,007,408. Match Group, Inc. has a 52-week low of $87.56 and a 52-week high of $174.68. The business has a 50 day moving average price of $152.56 and a 200 day moving average price of $131.63. The stock has a market cap of $40.97 billion, a PE ratio of -237.44, a P/E/G ratio of 6.90 and a beta of 1.20.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Monday, February 1st. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. Match Group had a net margin of 2.43% and a return on equity of 32.15%. The company had revenue of $651.41 million during the quarter, compared to the consensus estimate of $650.44 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, sell-side analysts expect that Match Group, Inc. will post 2.04 EPS for the current fiscal year.

In other Match Group news, Director Thomas Mcinerney sold 12,325 shares of the firm’s stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $142.11, for a total transaction of $1,751,505.75. Following the sale, the director now owns 338,612 shares of the company’s stock, valued at $48,120,151.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Glenn Schiffman sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $168.10, for a total transaction of $4,202,500.00. Following the sale, the director now directly owns 34,898 shares in the company, valued at approximately $5,866,353.80. The disclosure for this sale can be found here. Insiders sold 112,325 shares of company stock valued at $17,131,256 in the last quarter. 3.00% of the stock is owned by insiders.

Several equities research analysts recently issued reports on MTCH shares. Wells Fargo & Company raised their price objective on shares of Match Group from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 28th. JPMorgan Chase & Co. upgraded shares of Match Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $130.00 to $175.00 in a research report on Thursday, February 4th. Susquehanna raised shares of Match Group from a “neutral” rating to a “positive” rating and increased their target price for the stock from $150.00 to $165.00 in a research note on Thursday, February 4th. BMO Capital Markets increased their target price on shares of Match Group from $110.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, November 6th. Finally, Truist increased their target price on shares of Match Group from $150.00 to $155.00 in a research note on Thursday, February 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $144.33.

About Match Group

Match Group, Inc provides dating products worldwide. Its portfolio of brands include Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company is based in Dallas, Texas.

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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