Bronte Capital Management Pty Ltd. Increases Holdings in Match Group, Inc. (NASDAQ:MTCH)

Bronte Capital Management Pty Ltd. raised its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 751,733 shares of the technology company’s stock after purchasing an additional 115,135 shares during the period. Match Group comprises 2.6% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 15th biggest position. Bronte Capital Management Pty Ltd. owned 0.28% of Match Group worth $27,438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in Match Group by 6.5% during the third quarter. Commonwealth Equity Services LLC now owns 8,678 shares of the technology company’s stock worth $340,000 after buying an additional 530 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Match Group by 101.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 55,548 shares of the technology company’s stock worth $2,176,000 after purchasing an additional 28,008 shares during the period. Raymond James & Associates raised its stake in shares of Match Group by 25.7% during the 3rd quarter. Raymond James & Associates now owns 314,969 shares of the technology company’s stock valued at $12,339,000 after buying an additional 64,334 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Match Group by 266.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,376 shares of the technology company’s stock valued at $1,503,000 after buying an additional 27,916 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Match Group by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 2,573,079 shares of the technology company’s stock worth $100,800,000 after acquiring an additional 51,914 shares during the period. Institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTCH. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Match Group in a research note on Wednesday, March 27th. Royal Bank of Canada reduced their price target on shares of Match Group from $43.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday. TD Cowen reduced their price objective on Match Group from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Match Group from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.11.

Match Group Trading Up 2.5 %

Shares of MTCH stock traded up $0.76 during trading hours on Thursday, hitting $30.58. The company’s stock had a trading volume of 6,999,120 shares, compared to its average volume of 5,814,440. The business has a fifty day moving average of $33.65 and a 200-day moving average of $34.31. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 0.51 and a beta of 1.43. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $49.24.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The firm had revenue of $860.00 million during the quarter, compared to the consensus estimate of $855.77 million. During the same quarter in the previous year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts expect that Match Group, Inc. will post 2.16 EPS for the current fiscal 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.