Thrivent Financial for Lutherans Trims Position in Match Group, Inc. (NASDAQ:MTCH)

Thrivent Financial for Lutherans reduced its position in shares of Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 77.4% in the 4th quarter, HoldingsChannel reports. The firm owned 38,445 shares of the technology company’s stock after selling 131,878 shares during the period. Thrivent Financial for Lutherans’ holdings in Match Group were worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CI Investments Inc. grew its position in Match Group by 187.1% during the third quarter. CI Investments Inc. now owns 577 shares of the technology company’s stock worth $28,000 after buying an additional 376 shares during the period. Covestor Ltd grew its position in Match Group by 161.3% during the first quarter. Covestor Ltd now owns 742 shares of the technology company’s stock worth $81,000 after buying an additional 458 shares during the period. Advisors Asset Management Inc. grew its position in shares of Match Group by 107.0% in the third quarter. Advisors Asset Management Inc. now owns 828 shares of the technology company’s stock valued at $40,000 after purchasing an additional 428 shares during the last quarter. Glassman Wealth Services grew its position in shares of Match Group by 89.1% in the fourth quarter. Glassman Wealth Services now owns 851 shares of the technology company’s stock valued at $35,000 after purchasing an additional 401 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of Match Group in the third quarter valued at approximately $50,000. 93.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Match Group

In other news, insider Jared F. Sine sold 7,110 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $41.27, for a total transaction of $293,429.70. Following the completion of the sale, the insider now directly owns 60,379 shares of the company’s stock, valued at approximately $2,491,841.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MTCH has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Match Group from $55.00 to $42.00 in a research note on Thursday, May 4th. Citigroup cut their price target on shares of Match Group from $40.00 to $38.00 in a research note on Thursday, May 4th. TD Cowen cut their price target on shares of Match Group from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, April 17th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Match Group from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 2nd. Finally, StockNews.com initiated coverage on shares of Match Group in a research note on Thursday. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Match Group currently has an average rating of “Moderate Buy” and an average target price of $59.14.

Match Group Price Performance

Shares of MTCH opened at $31.84 on Friday. The stock has a market capitalization of $8.87 billion, a P/E ratio of 30.32, a P/E/G ratio of 0.64 and a beta of 1.34. Match Group, Inc. has a 12-month low of $30.73 and a 12-month high of $87.46. The firm’s 50 day moving average is $35.39 and its 200-day moving average is $41.71.

Match Group (NASDAQ:MTCH – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $787.12 million during the quarter, compared to the consensus estimate of $794.06 million. Match Group had a negative return on equity of 116.87% and a net margin of 9.51%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, equities research analysts forecast that Match Group, Inc. will post 2.04 EPS for the current fiscal year.

About Match Group

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Match Group, Inc engages in the provision of dating products. It operates under the brand name Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded on February 12, 2009 and is headquartered in Dallas, TX.