Watershed Asset Management L.L.C. Invests $328,000 in Match Group, Inc. (NASDAQ:MTCH)

Watershed Asset Management L.L.C. purchased a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,975 shares of the technology company’s stock, valued at approximately $328,000. Match Group comprises 0.4% of Watershed Asset Management L.L.C.’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of Match Group by 34.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after acquiring an additional 2,130,646 shares during the period. Ameriprise Financial Inc. increased its position in Match Group by 5.2% in the third quarter. Ameriprise Financial Inc. now owns 7,703,972 shares of the technology company’s stock worth $301,798,000 after buying an additional 377,745 shares during the last quarter. Boston Partners bought a new stake in shares of Match Group in the third quarter valued at $276,406,000. Invesco Ltd. grew its stake in shares of Match Group by 4.0% during the 3rd quarter. Invesco Ltd. now owns 4,037,684 shares of the technology company’s stock worth $158,176,000 after acquiring an additional 156,465 shares during the period. Finally, FMR LLC increased its holdings in Match Group by 14.2% in the 3rd quarter. FMR LLC now owns 3,434,071 shares of the technology company’s stock worth $134,530,000 after acquiring an additional 427,635 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup increased their target price on shares of Match Group from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. UBS Group raised their price target on Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. KeyCorp boosted their price objective on Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $45.00 target price on shares of Match Group in a research note on Wednesday, March 27th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Match Group has an average rating of “Hold” and an average target price of $43.07.

Match Group Stock Down 0.8 %

Shares of NASDAQ MTCH traded down $0.27 during mid-day trading on Tuesday, reaching $31.69. 3,361,141 shares of the company were exchanged, compared to its average volume of 5,772,581. The stock has a market capitalization of $8.49 billion, a PE ratio of 13.90, a PEG ratio of 0.51 and a beta of 1.41. Match Group, Inc. has a 52 week low of $27.85 and a 52 week high of $49.24. The company’s 50 day moving average price is $34.82 and its 200 day moving average price is $34.69.

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

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.