Retirement Systems of Alabama Sells 2,972 Shares of Match Group, Inc. (NASDAQ:MTCH)

Retirement Systems of Alabama lowered its position in Match Group, Inc. (NASDAQ:MTCH) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,905 shares of the technology company’s stock after selling 2,972 shares during the period. Retirement Systems of Alabama’s holdings in Match Group were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Match Group by 34.7% in the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock worth $324,174,000 after purchasing an additional 2,130,646 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Match Group by 5.2% during the third quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock valued at $301,798,000 after acquiring an additional 377,745 shares in the last quarter. Boston Partners bought a new stake in shares of Match Group during the third quarter valued at approximately $276,406,000. Invesco Ltd. raised its stake in shares of Match Group by 4.0% during the third quarter. Invesco Ltd. now owns 4,037,684 shares of the technology company’s stock valued at $158,176,000 after acquiring an additional 156,465 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Match Group by 14.2% during the third quarter. FMR LLC now owns 3,434,071 shares of the technology company’s stock valued at $134,530,000 after acquiring an additional 427,635 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MTCH. Citigroup lifted their price target on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Morgan Stanley lowered shares of Match Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $53.00 to $37.00 in a report on Thursday, April 18th. Piper Sandler reissued an “overweight” rating and set a $45.00 price objective on shares of Match Group in a report on Wednesday, March 27th. UBS Group lifted their price objective on shares of Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Finally, Raymond James assumed coverage on shares of Match Group in a report on Thursday, April 4th. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.82.

Match Group Trading Down 5.4 %

NASDAQ MTCH opened at $29.82 on Thursday. The firm has a market capitalization of $7.99 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.51 and a beta of 1.43. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $49.24. The firm’s fifty day simple moving average is $33.77 and its two-hundred day simple moving average is $34.34.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $860.00 million for the quarter, compared to analyst estimates of $855.77 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, sell-side analysts predict that Match Group, Inc. will post 2.16 earnings per share for the current fiscal year.

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.