HBK Sorce Advisory LLC Lowers Stock Position in Match Group, Inc. (NASDAQ:MTCH)

HBK Sorce Advisory LLC cut its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 13.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,943 shares of the technology company’s stock after selling 896 shares during the period. HBK Sorce Advisory LLC’s holdings in Match Group were worth $216,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Match Group by 10.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 279,551 shares of the technology company’s stock valued at $10,142,000 after buying an additional 27,448 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Match Group by 13.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 335,479 shares of the technology company’s stock valued at $12,879,000 after buying an additional 40,146 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Match Group by 301.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 52,132 shares of the technology company’s stock valued at $1,891,000 after buying an additional 39,150 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in Match Group by 30.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock worth $148,034,000 after purchasing an additional 943,894 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in Match Group by 23.8% during the 1st quarter. Bleakley Financial Group LLC now owns 90,716 shares of the technology company’s stock worth $3,291,000 after purchasing an additional 17,427 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Match Group from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Citigroup decreased their price target on shares of Match Group from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada decreased their price target on shares of Match Group from $43.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. The Goldman Sachs Group decreased their price target on shares of Match Group from $47.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Raymond James initiated coverage on shares of Match Group in a research report on Thursday, April 4th. They set a “market perform” rating for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.79.

Match Group Stock Performance

Shares of Match Group stock traded down $0.32 during trading on Friday, reaching $34.67. The company had a trading volume of 4,074,480 shares, compared to its average volume of 5,684,841. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 0.60 and a beta of 1.49. The firm’s fifty day moving average is $30.93 and its 200-day moving average is $33.63. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $49.24.

Match Group (NASDAQ:MTCH) last issued its earnings results 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 business had revenue of $860.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. On average, research analysts anticipate that Match Group, Inc. will post 2.11 EPS for the current fiscal year.

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.