Bronte Capital Management Pty Ltd. Purchases 379,031 Shares of Match Group, Inc. (NASDAQ:MTCH)

Bronte Capital Management Pty Ltd. raised its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 50.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,130,236 shares of the technology company’s stock after purchasing an additional 379,031 shares during the quarter. Match Group makes up about 2.8% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 13th biggest holding. Bronte Capital Management Pty Ltd. owned about 0.43% of Match Group worth $34,337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Match Group in the 2nd quarter worth about $100,848,000. Norges Bank bought a new position in shares of Match Group during the fourth quarter valued at approximately $112,903,000. Bank of Nova Scotia lifted its holdings in shares of 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 purchasing an additional 2,143,240 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of Match Group in the 4th quarter worth approximately $47,613,000. Finally, Schroder Investment Management Group grew 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 worth $57,171,000 after buying an additional 1,165,576 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Stock Performance

NASDAQ MTCH opened at $36.03 on Tuesday. The company has a market cap of $9.29 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.74 and a beta of 1.50. The business’s 50 day moving average price is $34.61 and its 200-day moving average price is $33.28. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $44.87.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The business had revenue of $864.07 million for the quarter, compared to the consensus estimate of $856.51 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Match Group, Inc. will post 1.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Evercore ISI upgraded Match Group to a “strong-buy” rating in a report on Thursday, August 1st. Hsbc Global Res raised Match Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. TD Cowen upped their price target on Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on Match Group from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, HSBC upgraded shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 target price on the stock in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and a consensus price target 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.