Simplicity Wealth LLC Decreases Holdings in Match Group, Inc. (NASDAQ:MTCH)

Simplicity Wealth LLC reduced its stake in Match Group, Inc. (NASDAQ:MTCH) by 69.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 28,116 shares of the technology company’s stock after selling 62,600 shares during the quarter. Simplicity Wealth LLC’s holdings in Match Group were worth $854,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in Match Group by 0.6% in the fourth quarter. Arizona State Retirement System now owns 76,429 shares of the technology company’s stock valued at $2,790,000 after purchasing an additional 459 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Match Group by 4,348.2% during the 4th quarter. International Assets Investment Management LLC now owns 79,935 shares of the technology company’s stock valued at $2,918,000 after buying an additional 78,138 shares in the last quarter. New York State Teachers Retirement System boosted its position in Match Group by 1.7% during the fourth quarter. New York State Teachers Retirement System now owns 251,696 shares of the technology company’s stock valued at $9,187,000 after buying an additional 4,182 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Match Group in the 4th quarter worth approximately $404,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Match Group by 9.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,133 shares of the technology company’s stock valued at $9,385,000 after acquiring an additional 21,588 shares during the period. Institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

NASDAQ MTCH traded down $0.19 on Friday, hitting $34.68. The stock had a trading volume of 973,996 shares, compared to its average volume of 5,729,482. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $47.81. The business’s fifty day moving average price is $32.30 and its 200 day moving average price is $33.42. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.63 and a beta of 1.48.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The firm had revenue of $864.07 million for 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 company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, sell-side analysts anticipate that Match Group, Inc. will post 1.98 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on MTCH. Wells Fargo & Company decreased their target price on shares of Match Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Truist Financial upped their target price on shares of Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. TD Cowen lifted their price target on shares of Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup increased their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus increased their price target on Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently 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.