Skandinaviska Enskilda Banken AB publ Buys 20,700 Shares of Match Group, Inc. (NASDAQ:MTCH)

Skandinaviska Enskilda Banken AB publ raised its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 34.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,156 shares of the technology company’s stock after acquiring an additional 20,700 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Match Group were worth $2,466,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in Match Group during the first quarter worth about $28,000. Principal Securities Inc. purchased a new position in shares of Match Group in the 4th quarter worth approximately $31,000. Mather Group LLC. bought a new position in shares of Match Group in the first quarter valued at approximately $33,000. Fidelis Capital Partners LLC purchased a new stake in shares of Match Group during the first quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new stake in Match Group during the first quarter worth $57,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

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 stock has a market cap of $9.77 billion, a P/E ratio of 15.99, a PEG ratio of 0.72 and a beta of 1.50. The firm’s fifty day moving average price is $35.68 and its 200-day moving average price is $33.30.

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

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Match Group from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $38.00 price target on shares of Match Group in a research report on Wednesday, July 31st. Truist Financial lifted their price objective on shares of Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. HSBC raised shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 target price for the company in a research report on Monday, August 5th. Finally, Wolfe Research started coverage on Match Group in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.07.

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.