Andra AP fonden Buys 452,700 Shares of Match Group, Inc. (NASDAQ:MTCH)

Andra AP fonden raised its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 194.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 685,772 shares of the technology company’s stock after buying an additional 452,700 shares during the quarter. Andra AP fonden owned about 0.26% of Match Group worth $20,834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTCH. Vanguard Group Inc. lifted its stake in Match Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock worth $1,173,966,000 after purchasing an additional 416,140 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Match Group by 30.1% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock worth $148,034,000 after buying an additional 943,894 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Match Group during the 2nd quarter valued at $100,848,000. Norges Bank bought a new stake in shares of Match Group during the 4th quarter worth $112,903,000. Finally, Bank of New York Mellon Corp grew its position in Match Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock worth $77,342,000 after acquiring an additional 12,379 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Truist Financial upped their target price on Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. TD Cowen increased their price target on shares of Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their price objective on shares of Match Group from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Hsbc Global Res upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Eight 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Match Group Trading Up 0.6 %

Shares of MTCH stock opened at $36.03 on Tuesday. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $44.87. The stock has a market cap of $9.29 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.74 and a beta of 1.50. The company has a 50 day simple moving average of $34.61 and a two-hundred day simple moving average of $33.28.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 EPS for the quarter, hitting the consensus estimate 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 analyst estimates of $856.51 million. During the same period in the prior year, the business posted $0.48 EPS. Match Group’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that Match Group, Inc. will post 1.98 earnings per share for the current 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.