Match Group, Inc. (NASDAQ:MTCH) Shares Bought by Scharf Investments LLC

Scharf Investments LLC grew its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 70.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,467,996 shares of the technology company’s stock after purchasing an additional 604,282 shares during the quarter. Match Group makes up about 1.4% of Scharf Investments LLC’s investment portfolio, making the stock its 24th biggest position. Scharf Investments LLC’s holdings in Match Group were worth $53,259,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MTCH. Robeco Institutional Asset Management B.V. raised its stake in Match Group by 54.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 85,777 shares of the technology company’s stock worth $3,131,000 after purchasing an additional 30,229 shares during the period. Norges Bank purchased a new position in shares of Match Group in the 4th quarter worth $112,903,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Match Group in the fourth quarter valued at $5,503,000. Nordea Investment Management AB increased its stake in Match Group by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,045,186 shares of the technology company’s stock worth $37,961,000 after acquiring an additional 191,615 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Match Group by 13.9% in the 3rd quarter. American Century Companies Inc. now owns 1,509,954 shares of the technology company’s stock valued at $59,152,000 after purchasing an additional 184,325 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Trading Up 0.4 %

NASDAQ MTCH traded up $0.13 during trading hours on Thursday, reaching $30.45. 7,176,566 shares of the company traded hands, compared to its average volume of 5,545,021. The company has a 50 day moving average of $31.00 and a two-hundred day moving average of $33.99. The stock has a market capitalization of $8.09 billion, a PE ratio of 13.24, a PEG ratio of 0.51 and a beta of 1.46. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $49.24.

Match Group (NASDAQ:MTCH) last issued its quarterly 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 business had revenue of $860.00 million for the quarter, compared to analysts’ expectations of $855.77 million. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. On average, equities research analysts anticipate that Match Group, Inc. will post 2.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MTCH has been the topic of several research reports. StockNews.com upgraded shares of Match Group from a “hold” rating to a “buy” rating in a report on Monday. UBS Group cut their target price on shares of Match Group from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Raymond James assumed coverage on shares of Match Group in a research report on Thursday, April 4th. They set a “market perform” rating for the company. Piper Sandler reissued an “overweight” rating and issued a $45.00 price objective on shares of Match Group in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company decreased their target price on Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Match Group currently has an average rating of “Moderate Buy” and an average target price of $42.43.

About Match Group

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.