Flossbach Von Storch AG Lowers Position in Match Group, Inc. (NASDAQ:MTCH)

Flossbach Von Storch AG cut its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 93.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 504,956 shares of the technology company’s stock after selling 6,769,700 shares during the period. Flossbach Von Storch AG owned about 0.19% of Match Group worth $18,431,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in Match Group by 73.8% during the first quarter. Acadian Asset Management LLC now owns 2,082 shares of the technology company’s stock valued at $224,000 after acquiring an additional 884 shares during the period. Dimensional Fund Advisors LP raised its holdings in Match Group by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 840,248 shares of the technology company’s stock valued at $91,374,000 after acquiring an additional 26,902 shares during the period. Aviva PLC raised its holdings in Match Group by 4.0% during the first quarter. Aviva PLC now owns 90,746 shares of the technology company’s stock valued at $9,868,000 after acquiring an additional 3,455 shares during the period. Prudential PLC bought a new stake in Match Group during the first quarter valued at about $279,000. Finally, Vanguard Group Inc. raised its holdings in Match Group by 1.7% during the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock valued at $3,170,951,000 after acquiring an additional 500,418 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MTCH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Piper Sandler reissued an “overweight” rating and set a $45.00 price target on shares of Match Group in a report on Wednesday, March 27th. Citigroup raised their price target on Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. KeyCorp lifted their target price on Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, UBS Group lifted their target price on Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.39.

Match Group Stock Up 1.7 %

NASDAQ MTCH traded up $0.55 during trading hours on Wednesday, hitting $32.28. 3,651,957 shares of the company were exchanged, compared to its average volume of 5,884,258. The stock has a 50-day moving average price of $35.12 and a 200 day moving average price of $34.87. Match Group, Inc. has a 52 week low of $27.85 and a 52 week high of $49.24. The stock has a market cap of $8.65 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.32. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The business had revenue of $866.00 million during the quarter, compared to analyst estimates of $861.31 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Match Group, Inc. will post 2.17 earnings per share for the current year.

About Match Group

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.