Applied Fundamental Research LLC Trims Position in Match Group, Inc. (NASDAQ:MTCH)

Applied Fundamental Research LLC cut its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 16.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 170,988 shares of the technology company’s stock after selling 32,923 shares during the period. Match Group comprises 4.3% of Applied Fundamental Research LLC’s portfolio, making the stock its 11th biggest holding. Applied Fundamental Research LLC’s holdings in Match Group were worth $6,470,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MTCH. O Shaughnessy Asset Management LLC raised its stake in Match Group by 23.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,679 shares of the technology company’s stock valued at $315,000 after purchasing an additional 1,628 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Match Group by 6.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 7,807 shares of the technology company’s stock valued at $283,000 after purchasing an additional 478 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Match Group by 22.1% in the 1st quarter. Tidal Investments LLC now owns 27,574 shares of the technology company’s stock worth $999,000 after purchasing an additional 4,994 shares during the period. Plato Investment Management Ltd boosted its position in Match Group by 342.5% during the 1st quarter. Plato Investment Management Ltd now owns 2,810 shares of the technology company’s stock valued at $102,000 after acquiring an additional 2,175 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. lifted its position in Match Group by 51.1% during the first quarter. Strategic Wealth Partners Ltd. now owns 39,509 shares of the technology company’s stock valued at $1,433,000 after buying an additional 13,360 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Up 3.3 %

Shares of Match Group stock opened at $32.57 on Tuesday. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.87 and a beta of 1.51. The stock’s 50-day simple moving average is $35.63 and its 200-day simple moving average is $33.98. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $42.42.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MTCH shares. Bank of America reissued a “neutral” rating and issued a $35.00 price target (down from $50.00) on shares of Match Group in a research report on Thursday, November 7th. Morgan Stanley cut their target price on Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. UBS Group decreased their price objective on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Citigroup raised their target price on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Match Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.73.

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.