Profund Advisors LLC Cuts Holdings in Match Group, Inc. (NASDAQ:MTCH)

Profund Advisors LLC trimmed its position in Match Group, Inc. (NASDAQ:MTCH) by 78.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,645 shares of the technology company’s stock after selling 31,720 shares during the quarter. Profund Advisors LLC’s holdings in Match Group were worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. YHB Investment Advisors Inc. bought a new stake in Match Group in the 1st quarter worth approximately $28,000. Mather Group LLC. purchased a new position in shares of Match Group in the first quarter valued at $33,000. Fidelis Capital Partners LLC bought a new stake in Match Group in the first quarter worth $33,000. Riverview Trust Co purchased a new stake in Match Group during the first quarter valued at $57,000. Finally, Sentry Investment Management LLC bought a new position in Match Group during the first quarter valued at $57,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTCH. StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. HSBC upgraded Match Group from a “hold” rating to a “buy” rating and set a $43.20 price objective on the stock in a research report on Monday, August 5th. Hsbc Global Res upgraded Match Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Citigroup increased their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, TD Cowen lifted their price objective 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. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Match Group has an average rating of “Moderate Buy” and an average target price of $42.07.

Match Group Stock Up 1.7 %

Shares of NASDAQ MTCH opened at $37.81 on Friday. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $42.42. The firm has a market cap of $9.75 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 0.77 and a beta of 1.50. The business has a fifty day simple moving average of $35.81 and a two-hundred day simple moving average of $33.38.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data 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 negative return on equity of 467.66% and a net margin of 18.72%. The firm had revenue of $864.07 million during the quarter, compared to the consensus estimate of $856.51 million. During the same period in the previous year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts expect that Match Group, Inc. will post 1.98 earnings per share for the current year.

About Match Group

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.