NewEdge Wealth LLC Acquires Shares of 6,576 Match Group, Inc. (NASDAQ:MTCH)

NewEdge Wealth LLC acquired a new stake in Match Group, Inc. (NASDAQ:MTCH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,576 shares of the technology company’s stock, valued at approximately $240,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in shares of Match Group by 161.3% in the 1st quarter. Covestor Ltd now owns 742 shares of the technology company’s stock valued at $81,000 after purchasing an additional 458 shares during the period. State of Wyoming acquired a new position in Match Group in the second quarter valued at about $38,000. VisionPoint Advisory Group LLC bought a new position in Match Group during the third quarter worth about $40,000. Massmutual Trust Co. FSB ADV grew its position in shares of Match Group by 46.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the technology company’s stock worth $42,000 after buying an additional 361 shares during the period. Finally, AM Squared Ltd bought a new stake in shares of Match Group in the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Down 0.2 %

NASDAQ MTCH opened at $32.22 on Friday. Match Group, Inc. has a 12-month low of $27.85 and a 12-month high of $49.24. The company has a market capitalization of $8.64 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41. The firm’s 50 day moving average is $35.06 and its 200-day moving average is $34.85.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on MTCH. KeyCorp increased their price target on shares of Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. UBS Group increased their price target on shares of Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Morgan Stanley downgraded shares of Match Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $53.00 to $37.00 in a research report on Thursday. Finally, Citigroup increased their price target on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Nine analysts have rated the stock with a hold rating and nine have assigned 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 $43.95.

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.