Hartford Investment Management Co. Decreases Holdings in Match Group, Inc. (NASDAQ:MTCH)

Hartford Investment Management Co. decreased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,172 shares of the technology company’s stock after selling 814 shares during the period. Hartford Investment Management Co.’s holdings in Match Group were worth $612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oak Thistle LLC bought a new stake in shares of Match Group in the 1st quarter valued at approximately $261,000. Allspring Global Investments Holdings LLC lifted its position in Match Group by 13.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,240 shares of the technology company’s stock worth $698,000 after buying an additional 2,291 shares during the last quarter. SWS Partners boosted its stake in Match Group by 95.8% during the first quarter. SWS Partners now owns 68,833 shares of the technology company’s stock worth $2,497,000 after buying an additional 33,684 shares during the period. Applied Fundamental Research LLC increased its position in Match Group by 1.0% during the first quarter. Applied Fundamental Research LLC now owns 285,804 shares of the technology company’s stock valued at $10,329,000 after acquiring an additional 2,819 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Match Group by 2.7% in the first quarter. Janney Montgomery Scott LLC now owns 79,782 shares of the technology company’s stock valued at $2,894,000 after acquiring an additional 2,083 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MTCH shares. Wolfe Research began coverage on shares of Match Group in a research note on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price target for the company. Hsbc Global Res upgraded Match Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. TD Cowen increased their price target on Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI upgraded Match Group to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus upped their price objective on Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.78.

Match Group Stock Performance

NASDAQ MTCH opened at $37.21 on Friday. The company has a market cap of $9.89 billion, a PE ratio of 16.18, a P/E/G ratio of 0.78 and a beta of 1.51. The firm’s 50 day moving average price is $36.99 and its 200-day moving average price is $33.77. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $42.42.

Match Group (NASDAQ:MTCH) last announced its earnings results 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 business had revenue of $864.07 million for the quarter, compared to analysts’ expectations of $856.51 million. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. On average, analysts forecast that Match Group, Inc. will post 1.96 earnings per share for the current fiscal 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.