Teacher Retirement System of Texas Has $8.50 Million Stake in Match Group, Inc. (NASDAQ:MTCH)

Teacher Retirement System of Texas decreased its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 22.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,871 shares of the technology company’s stock after selling 17,824 shares during the quarter. Teacher Retirement System of Texas’ holdings in Match Group were worth $8,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MTCH. HighTower Advisors LLC increased its stake in shares of Match Group by 2.6% in the first quarter. HighTower Advisors LLC now owns 39,899 shares of the technology company’s stock valued at $5,482,000 after buying an additional 993 shares during the period. M&T Bank Corp increased its stake in shares of Match Group by 65.4% in the first quarter. M&T Bank Corp now owns 36,083 shares of the technology company’s stock valued at $4,957,000 after buying an additional 14,269 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Match Group by 8.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 66,052 shares of the technology company’s stock valued at $9,076,000 after buying an additional 5,313 shares during the period. Capital Planning Advisors LLC increased its stake in shares of Match Group by 7.4% in the fourth quarter. Capital Planning Advisors LLC now owns 18,767 shares of the technology company’s stock valued at $2,837,000 after buying an additional 1,288 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Match Group by 3.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 311,663 shares of the technology company’s stock valued at $47,120,000 after buying an additional 10,409 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

MTCH opened at $141.88 on Friday. Match Group, Inc. has a 1-year low of $87.56 and a 1-year high of $174.68. The company has a market capitalization of $38.35 billion, a P/E ratio of 77.53, a P/E/G ratio of 6.40 and a beta of 1.13. The firm has a fifty day moving average of $144.23.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, May 4th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.18. Match Group had a net margin of 20.44% and a negative return on equity of 39.56%. The firm had revenue of $667.61 million during the quarter, compared to the consensus estimate of $650.74 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. As a group, equities research analysts expect that Match Group, Inc. will post 2.11 earnings per share for the current year.

Several research firms have recently issued reports on MTCH. BTIG Research raised Match Group from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Monday, April 12th. Oppenheimer upped their target price on Match Group from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, May 6th. KeyCorp upped their target price on Match Group from $165.00 to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Match Group from a “strong sell” rating to a “hold” rating and set a $151.00 target price on the stock in a report on Tuesday, April 6th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Match Group currently has a consensus rating of “Buy” and a consensus price target of $153.15.

In other news, Director Ann Mcdaniel sold 2,500 shares of the business’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $138.82, for a total transaction of $347,050.00. Following the completion of the sale, the director now directly owns 10,169 shares of the company’s stock, valued at $1,411,660.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Philip D. Eigenmann sold 10,861 shares of the business’s stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $146.21, for a total transaction of $1,587,986.81. Following the sale, the chief accounting officer now directly owns 10,861 shares of the company’s stock, valued at $1,587,986.81. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

About Match Group

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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

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