272 Capital LP Raises Holdings in Match Group, Inc. (NASDAQ:MTCH)

272 Capital LP increased its position in Match Group, Inc. (NASDAQ:MTCH) by 104.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 55,198 shares of the technology company’s stock after purchasing an additional 28,200 shares during the period. 272 Capital LP’s holdings in Match Group were worth $1,677,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MTCH. Marshall Wace LLP acquired a new position in Match Group during the second quarter worth approximately $49,053,000. Public Sector Pension Investment Board increased its holdings in shares of Match Group by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 642,902 shares of the technology company’s stock valued at $19,531,000 after acquiring an additional 3,562 shares during the period. DRW Securities LLC purchased a new stake in Match Group in the 2nd quarter valued at $500,000. Mount Yale Investment Advisors LLC boosted its stake in Match Group by 9.2% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 37,734 shares of the technology company’s stock worth $1,146,000 after purchasing an additional 3,191 shares during the period. Finally, ProShare Advisors LLC grew its position in Match Group by 7.1% during the 2nd quarter. ProShare Advisors LLC now owns 78,595 shares of the technology company’s stock worth $2,388,000 after purchasing an additional 5,178 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Performance

Match Group stock opened at $36.77 on Tuesday. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 0.72 and a beta of 1.50. The stock’s fifty day moving average is $35.68 and its two-hundred day moving average is $33.30.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $856.51 million. During the same period last year, the firm posted $0.48 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Match Group, Inc. will post 1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MTCH shares. Citigroup upped their target price on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Evercore ISI raised Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Truist Financial increased their price target on Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, HSBC raised shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price objective on the stock in a research note on Monday, August 5th. Eight equities research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.07.

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.