Franklin Resources Inc. Has $48.31 Million Position in Match Group, Inc. (NASDAQ:MTCH)

Franklin Resources Inc. lifted its stake in Match Group, Inc. (NASDAQ:MTCH) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,323,495 shares of the technology company’s stock after acquiring an additional 1,210 shares during the quarter. Franklin Resources Inc. owned approximately 0.49% of Match Group worth $48,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV increased its stake in shares of Match Group by 46.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the technology company’s stock worth $42,000 after acquiring an additional 361 shares during the last quarter. Greenwich Wealth Management LLC increased its stake in shares of Match Group by 1.9% in the fourth quarter. Greenwich Wealth Management LLC now owns 19,170 shares of the technology company’s stock worth $700,000 after acquiring an additional 361 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Match Group by 4.4% in the third quarter. Blair William & Co. IL now owns 8,941 shares of the technology company’s stock worth $350,000 after acquiring an additional 373 shares during the last quarter. Global Retirement Partners LLC increased its position in 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 buying an additional 410 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Match Group by 0.6% during the fourth quarter. Arizona State Retirement System now owns 76,429 shares of the technology company’s stock worth $2,790,000 after buying an additional 459 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Performance

NASDAQ MTCH opened at $29.40 on Friday. The firm has a 50-day simple moving average of $32.76 and a 200 day simple moving average of $34.14. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $49.24. The stock has a market cap of $7.81 billion, a PE ratio of 12.78, a PEG ratio of 0.49 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last released 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 19.03% and a negative return on equity of 433.59%. The business had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Research analysts forecast that Match Group, Inc. will post 2.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on MTCH. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Match Group from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. 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. TD Cowen lowered their target price on shares of Match Group from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Wells Fargo & Company lowered their target price on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Finally, Morgan Stanley downgraded shares of Match Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $53.00 to $37.00 in a research report on Thursday, April 18th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.43.

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.