California Public Employees Retirement System Has $18.27 Million Position in Match Group, Inc. (NASDAQ:MTCH)

California Public Employees Retirement System lessened its holdings in Match Group, Inc. (NASDAQ:MTCH) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 500,477 shares of the technology company’s stock after selling 14,814 shares during the period. California Public Employees Retirement System owned about 0.18% of Match Group worth $18,267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. VisionPoint Advisory Group LLC purchased a new position in Match Group during the third quarter valued at approximately $40,000. Massmutual Trust Co. FSB ADV grew its holdings 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 valued at $42,000 after acquiring an additional 361 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Match Group by 432.1% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,341 shares of the technology company’s stock valued at $49,000 after acquiring an additional 1,089 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Match Group in the third quarter worth $62,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Match Group by 23.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,152 shares of the technology company’s stock worth $79,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Price Performance

Shares of MTCH opened at $31.53 on Tuesday. Match Group, Inc. has a one year low of $27.85 and a one year high of $49.24. The company’s fifty day moving average price is $34.37 and its 200 day moving average price is $34.53. The company has a market capitalization of $8.45 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.32. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The business had revenue of $866.00 million for the quarter, compared to analyst estimates of $861.31 million. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts anticipate that Match Group, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered their target price on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Piper Sandler restated an “overweight” rating and issued a $45.00 price objective on shares of Match Group in a report on Wednesday, March 27th. Morgan Stanley cut shares of Match Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $53.00 to $37.00 in a research note on Thursday, April 18th. Finally, KeyCorp increased their price target on shares of Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $43.07.

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.