Renaissance Technologies LLC Raises Stake in Match Group, Inc. (NASDAQ:MTCH)

Renaissance Technologies LLC increased its stake in Match Group, Inc. (NASDAQ:MTCH) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,150,964 shares of the technology company’s stock after buying an additional 135,100 shares during the period. Renaissance Technologies LLC owned 0.43% of Match Group worth $34,966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTCH. Gryphon Financial Partners LLC purchased a new stake in shares of Match Group in the 4th quarter worth approximately $149,000. Principal Securities Inc. bought a new position in shares of Match Group during the 4th quarter worth approximately $31,000. Dimensional Fund Advisors LP lifted its position in Match Group by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,227,300 shares of the technology company’s stock valued at $44,799,000 after acquiring an additional 85,775 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Match Group by 43.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 77,699 shares of the technology company’s stock valued at $2,836,000 after acquiring an additional 23,537 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position 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 worth $3,131,000 after purchasing an additional 30,229 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

NASDAQ MTCH opened at $36.26 on Thursday. The company has a market cap of $9.63 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.72 and a beta of 1.50. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $42.87. The stock has a 50-day moving average of $35.40 and a two-hundred day moving average of $33.26.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The firm had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $856.51 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Match Group, Inc. will post 1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MTCH shares. Truist Financial upped their price objective on shares of Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Hsbc Global Res raised Match Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Evercore ISI upgraded Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their target price on Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley cut their price target on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.07.

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.