Match Group, Inc. (NASDAQ:MTCH) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 37.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,144 shares of the technology company’s stock after selling 60,098 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Match Group were worth $3,042,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in Match Group in the 2nd quarter worth about $100,848,000. Norges Bank purchased a new stake in shares of Match Group in the fourth quarter valued at approximately $112,903,000. Bank of Nova Scotia raised its stake in shares of Match Group by 17,295.4% during the 4th quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company’s stock worth $78,678,000 after buying an additional 2,143,240 shares during the period. Kodai Capital Management LP acquired a new position in shares of Match Group during the 4th quarter worth approximately $47,613,000. Finally, Schroder Investment Management Group lifted its position in shares of Match Group by 290.8% during the 4th quarter. Schroder Investment Management Group now owns 1,566,334 shares of the technology company’s stock valued at $57,171,000 after buying an additional 1,165,576 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Price Performance

Shares of MTCH stock opened at $36.26 on Thursday. The firm’s 50-day moving average is $35.40 and its two-hundred day moving average is $33.26. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $42.87. The company has a market capitalization of $9.63 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 0.72 and a beta of 1.50.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MTCH shares. Truist Financial boosted their price target on shares of Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $38.00 target price on shares of Match Group in a research note on Wednesday, July 31st. Royal Bank of Canada raised their price target on shares of Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price objective 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, TD Cowen raised their target price on Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Eight equities 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.