Federated Hermes Inc. Reduces Position in Match Group, Inc. (NASDAQ:MTCH)

Federated Hermes Inc. lowered its position in Match Group, Inc. (NASDAQ:MTCH) by 25.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,152 shares of the technology company’s stock after selling 4,795 shares during the quarter. Federated Hermes Inc.’s holdings in Match Group were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Lazard Asset Management LLC raised its position in Match Group by 24.5% in the 1st quarter. Lazard Asset Management LLC now owns 410,938 shares of the technology company’s stock valued at $14,908,000 after purchasing an additional 80,855 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Match Group during the first quarter worth about $2,410,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Match Group in the 4th quarter valued at about $5,503,000. Nordea Investment Management AB increased its position in Match Group by 20.8% in the 1st quarter. Nordea Investment Management AB now owns 1,262,946 shares of the technology company’s stock valued at $46,072,000 after acquiring an additional 217,760 shares during the period. Finally, Vanguard Group Inc. lifted its position in Match Group by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock worth $1,173,966,000 after acquiring an additional 416,140 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Price Performance

Shares of Match Group stock opened at $36.77 on Tuesday. The business has a 50 day moving average price of $35.68 and a 200 day moving average price of $33.30. The company has a market capitalization of $9.77 billion, a P/E ratio of 15.99, 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 $42.42.

Match Group (NASDAQ:MTCH) last posted 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. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The business had revenue of $864.07 million for the quarter, compared to analyst estimates of $856.51 million. During the same quarter last year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts expect that Match Group, Inc. will post 1.98 EPS for the current fiscal year.

Analyst Ratings Changes

MTCH has been the subject of several analyst reports. Wolfe Research began coverage on Match Group in a research note on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price target for the company. Citigroup lifted 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. Stifel Nicolaus boosted their price target on shares of Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Match Group in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.