Clearbridge Investments LLC Sells 562,048 Shares of Match Group, Inc. (NASDAQ:MTCH)

Clearbridge Investments LLC lowered its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 42.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 759,997 shares of the technology company’s stock after selling 562,048 shares during the period. Clearbridge Investments LLC’s holdings in Match Group were worth $27,573,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of 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 valued at $3,131,000 after acquiring an additional 30,229 shares during the last quarter. Norges Bank bought a new position in Match Group during the fourth quarter worth $112,903,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Match Group during the fourth quarter worth $5,503,000. FORA Capital LLC bought a new position in Match Group during the first quarter worth $2,410,000. Finally, Nordea Investment Management AB raised its stake in Match Group by 20.8% during the first quarter. Nordea Investment Management AB now owns 1,262,946 shares of the technology company’s stock worth $46,072,000 after buying an additional 217,760 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

MTCH has been the subject of a number of analyst reports. UBS Group lowered their target price on shares of Match Group from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Susquehanna lowered their target price on shares of Match Group from $46.00 to $45.00 and set a “positive” rating for the company in a research note on Monday, May 13th. Wells Fargo & Company lowered their target price on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Morgan Stanley lowered their target price on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, TD Cowen lowered their target price on shares of Match Group from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.79.

Match Group Price Performance

Shares of NASDAQ MTCH traded down $0.06 during mid-day trading on Tuesday, reaching $34.35. 4,968,202 shares of the company’s stock traded hands, compared to its average volume of 5,667,459. The stock has a market cap of $9.13 billion, a P/E ratio of 14.93, a PEG ratio of 0.58 and a beta of 1.49. The business has a 50-day simple moving average of $31.12 and a 200 day simple moving average of $33.55. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $49.24.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 19.03% and a negative return on equity of 433.59%. The business’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. Equities research analysts anticipate 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.