Royal London Asset Management Ltd. Acquires 8,118 Shares of Match Group, Inc. (NASDAQ:MTCH)

Royal London Asset Management Ltd. grew its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,124 shares of the technology company’s stock after acquiring an additional 8,118 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Match Group were worth $4,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MTCH. Norges Bank acquired a new position in shares of Match Group during the fourth quarter worth $112,903,000. Bank of Nova Scotia boosted its position in Match Group by 17,295.4% during the fourth quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company’s stock valued at $78,678,000 after acquiring an additional 2,143,240 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 acquiring an additional 2,130,646 shares during the period. Kodai Capital Management LP bought a new position in shares of Match Group during the 4th quarter worth approximately $47,613,000. Finally, Schroder Investment Management Group increased its stake in shares of Match Group by 290.8% in the 4th quarter. Schroder Investment Management Group now owns 1,566,334 shares of the technology company’s stock valued at $57,171,000 after acquiring an additional 1,165,576 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

NASDAQ MTCH traded down $0.05 during trading on Friday, hitting $31.55. 3,844,297 shares of the company’s stock traded hands, compared to its average volume of 3,919,849. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.53 and a beta of 1.46. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $49.24. The business has a 50 day moving average of $31.42 and a 200-day moving average of $34.11.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MTCH shares. Susquehanna decreased their price objective on Match Group from $46.00 to $45.00 and set a “positive” rating for the company in a report on Monday, May 13th. TD Cowen decreased their target price on shares of Match Group from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Morgan Stanley cut shares of Match Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $53.00 to $37.00 in a research report on Thursday, April 18th. KeyCorp decreased their price objective on Match Group from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, Royal Bank of Canada dropped their target price on Match Group from $43.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.43.

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.