American Century Companies Inc. Sells 853,752 Shares of Match Group, Inc. (NASDAQ:MTCH)

American Century Companies Inc. reduced its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 92.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,719 shares of the technology company’s stock after selling 853,752 shares during the quarter. American Century Companies Inc.’s holdings in Match Group were worth $2,179,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MTCH. YHB Investment Advisors Inc. acquired a new position in Match Group in the first quarter valued at approximately $28,000. Mather Group LLC. acquired a new stake in Match Group in the first quarter worth $33,000. Fidelis Capital Partners LLC acquired a new stake in Match Group in the first quarter worth $33,000. Riverview Trust Co acquired a new stake in Match Group in the first quarter worth $57,000. Finally, Sentry Investment Management LLC acquired a new stake in Match Group in the first quarter worth $57,000. 94.05% of the stock is owned by institutional investors.

Match Group Price Performance

Shares of MTCH opened at $37.81 on Friday. The firm has a 50-day moving average of $35.87 and a 200-day moving average of $33.40. Match Group, Inc. has a one year low of $27.66 and a one year high of $42.42. The company 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.

Match Group (NASDAQ:MTCH) last posted 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. The company had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. Match Group’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. Analysts expect that Match Group, Inc. will post 1.98 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley cut their target price 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. Wolfe Research initiated 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. Evercore ISI upgraded shares of Match Group to a “strong-buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $38.00 price objective on shares of Match Group in a report on Wednesday, July 31st. Finally, TD Cowen raised their price objective on shares of Match Group from $44.00 to $46.00 and gave the stock a “buy” 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Match Group has an average rating of “Moderate Buy” and a consensus price target of $42.07.

Match Group 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.