Canada Pension Plan Investment Board Lowers Holdings in Match Group, Inc. (NASDAQ:MTCH)

Canada Pension Plan Investment Board decreased its stake in Match Group, Inc. (NASDAQ:MTCH) by 9.5% during the first quarter, Holdings Channel reports. The institutional investor owned 1,591,329 shares of the technology company’s stock after selling 166,173 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Match Group were worth $57,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new stake in shares of Match Group in the first quarter worth about $28,000. Principal Securities Inc. purchased a new stake in shares of Match Group in the fourth quarter worth about $31,000. Mather Group LLC. purchased a new stake in shares of Match Group in the first quarter worth about $33,000. Fidelis Capital Partners LLC purchased a new position in Match Group during the first quarter worth approximately $33,000. Finally, GAMMA Investing LLC purchased a new position in Match Group during the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

NASDAQ:MTCH opened at $33.25 on Friday. Match Group, Inc. has a one year low of $27.66 and a one year high of $49.24. The stock has a market cap of $8.83 billion, a PE ratio of 14.46, a P/E/G ratio of 0.56 and a beta of 1.49. The stock has a 50 day moving average price of $31.23 and a 200 day moving average price of $33.47.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The firm had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. During the same quarter last year, the firm earned $0.42 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts predict that Match Group, Inc. will post 2.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTCH. Deutsche Bank Aktiengesellschaft lowered their price target on Match Group from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. TD Cowen lowered their price target on Match Group from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Citigroup lowered their price target on Match Group from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. KeyCorp lowered their price target on Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Finally, Wells Fargo & Company lowered their price target on Match Group from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.79.

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.