M&G Plc Invests $8.77 Million in Match Group, Inc. (NASDAQ:MTCH)

M&G Plc bought a new position in Match Group, Inc. (NASDAQ:MTCH) during the 2nd quarter, Holdings Channel reports. The fund bought 292,243 shares of the technology company’s stock, valued at approximately $8,767,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MTCH. YHB Investment Advisors Inc. bought a new stake in Match Group in the 1st quarter valued at $28,000. Principal Securities Inc. bought a new position in Match Group during the fourth quarter valued at about $31,000. Mather Group LLC. acquired a new position in Match Group in the 1st quarter valued at approximately $33,000. Fidelis Capital Partners LLC bought a new stake in shares of Match Group in the 1st quarter worth approximately $33,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Match Group during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

NASDAQ MTCH opened at $34.56 on Wednesday. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.72 and a beta of 1.48. The business has a 50 day simple moving average of $32.51 and a 200 day simple moving average of $33.31. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $47.81.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $864.07 million during the quarter, compared to the consensus estimate of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, analysts predict that Match Group, Inc. will post 1.98 EPS for the current year.

Analyst Ratings Changes

MTCH has been the subject of a number of recent research reports. Hsbc Global Res upgraded Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley dropped their price objective on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. TD Cowen lifted their target price on shares of Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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 note on Thursday, May 9th. Finally, StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.07.

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.