Applied Fundamental Research LLC Reduces Stake in Match Group, Inc. (NASDAQ:MTCH)

Applied Fundamental Research LLC trimmed its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 28.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 203,911 shares of the technology company’s stock after selling 81,893 shares during the quarter. Match Group comprises about 4.6% of Applied Fundamental Research LLC’s investment portfolio, making the stock its 10th largest holding. Applied Fundamental Research LLC owned approximately 0.08% of Match Group worth $6,195,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. YHB Investment Advisors Inc. bought a new stake in shares of Match Group during the first quarter worth $28,000. Principal Securities Inc. acquired a new position in shares of Match Group during the fourth quarter valued at about $31,000. Mather Group LLC. acquired a new position in shares of Match Group during the first quarter valued at about $33,000. Fidelis Capital Partners LLC acquired a new stake in shares of Match Group in the 1st quarter worth about $33,000. Finally, Riverview Trust Co acquired a new stake in shares of Match Group in the 1st quarter worth about $57,000. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $38.00 target price on shares of Match Group in a research report on Wednesday, July 31st. Hsbc Global Res upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Citigroup increased their target price on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their target price on shares of Match Group from $33.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Truist Financial increased their target price on shares of Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Match Group Stock Performance

MTCH stock opened at $36.30 on Monday. The firm has a market cap of $9.64 billion, a P/E ratio of 15.78, a P/E/G ratio of 0.72 and a beta of 1.50. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $42.42. The firm’s fifty day moving average is $35.58 and its 200 day moving average is $33.28.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $864.07 million for the quarter, compared to analyst estimates of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. As a group, analysts forecast that Match Group, Inc. will post 1.98 EPS for the current year.

Match Group 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.