BI Asset Management Fondsmaeglerselskab A S Sells 1,233 Shares of Match Group, Inc. (NASDAQ:MTCH)

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Match Group, Inc. (NASDAQ:MTCH) by 10.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,918 shares of the technology company’s stock after selling 1,233 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Match Group were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in Match Group during the third quarter worth $276,406,000. Norges Bank purchased a new position in Match Group in the fourth quarter valued at about $112,903,000. Wellington Management Group LLP grew its position in 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 worth $324,174,000 after purchasing an additional 2,130,646 shares during the last quarter. Scharf Investments LLC purchased a new stake in Match Group during the 4th quarter valued at about $31,526,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Match Group by 47.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,415,658 shares of the technology company’s stock worth $94,633,000 after acquiring an additional 775,083 shares during the period. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MTCH. UBS Group cut their target price on shares of Match Group from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. JPMorgan Chase & Co. reduced their price target on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. KeyCorp reduced their target price on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Royal Bank of Canada dropped their price target on shares of Match Group from $43.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Susquehanna lowered their target price on shares of Match Group from $46.00 to $45.00 and set a “positive” rating on the stock in a research report on Monday, May 13th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.43.

Match Group Stock Performance

NASDAQ MTCH opened at $29.40 on Friday. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $49.24. The stock has a market capitalization of $7.81 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43. The stock has a fifty day moving average of $32.76 and a 200-day moving average of $34.11.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The business had revenue of $860.00 million for the quarter, compared to analysts’ expectations of $855.77 million. During the same quarter last year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Match Group, Inc. will post 2.11 earnings per share for the current fiscal year.

About Match Group

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.