Public Employees Retirement System of Ohio Lowers Position in Match Group, Inc. (NASDAQ:MTCH)

Public Employees Retirement System of Ohio cut its position in Match Group, Inc. (NASDAQ:MTCH) by 10.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,444 shares of the technology company’s stock after selling 12,742 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Match Group were worth $3,826,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Match Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock worth $1,173,966,000 after purchasing an additional 416,140 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Match Group by 30.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock worth $148,034,000 after purchasing an additional 943,894 shares in the last quarter. Norges Bank bought a new position in Match Group in the fourth quarter worth about $112,903,000. Charles Schwab Investment Management Inc. raised its holdings in Match Group by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,466,837 shares of the technology company’s stock worth $90,040,000 after purchasing an additional 51,179 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Match Group by 4.5% in the fourth quarter. First Trust Advisors LP now owns 2,300,596 shares of the technology company’s stock worth $83,972,000 after purchasing an additional 98,912 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Performance

NASDAQ MTCH opened at $37.57 on Friday. The business has a fifty day moving average price of $31.70 and a 200 day moving average price of $33.45. Match Group, Inc. has a one year low of $27.66 and a one year high of $49.24. The company has a market cap of $9.98 billion, a P/E ratio of 16.33, a P/E/G ratio of 0.65 and a beta of 1.48.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. Match Group had a negative return on equity of 457.93% and a net margin of 18.72%. The business had revenue of $864.07 million during the quarter, compared to the consensus estimate of $856.51 million. During the same period last year, the company earned $0.48 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts predict that Match Group, Inc. will post 2.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. KeyCorp cut their price objective 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. TD Cowen upped their price objective on shares of Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley cut their price objective on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus upped their price objective on shares of Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a report on Thursday. Finally, Wolfe Research assumed coverage on shares of Match Group in a report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.22.

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.