Novare Capital Management LLC Increases Holdings in Match Group, Inc. (NASDAQ:MTCH)

Novare Capital Management LLC boosted its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,922 shares of the technology company’s stock after purchasing an additional 2,995 shares during the period. Novare Capital Management LLC’s holdings in Match Group were worth $8,587,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its holdings in Match Group by 42.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 56,404 shares of the technology company’s stock valued at $2,134,000 after purchasing an additional 16,768 shares during the period. Burns Matteson Capital Management LLC purchased a new position in Match Group during the 3rd quarter valued at about $432,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,500 shares during the period. Strategic Wealth Partners Ltd. increased its holdings in Match Group by 19.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 65,040 shares of the technology company’s stock valued at $2,461,000 after purchasing an additional 10,729 shares during the period. Finally, Atomi Financial Group Inc. purchased a new position in Match Group during the 3rd quarter valued at about $292,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Truist Financial upped their target price on Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their target price on Match Group from $33.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $38.00 price target on shares of Match Group in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Moderate Buy” and an average price target of $42.34.

Match Group Stock Performance

Shares of NASDAQ MTCH traded down $0.03 during midday trading on Monday, hitting $37.69. 1,098,018 shares of the stock traded hands, compared to its average volume of 5,331,011. The firm has a 50-day moving average of $36.40 and a two-hundred day moving average of $33.56. The firm has a market capitalization of $9.72 billion, a P/E ratio of 16.40, a PEG ratio of 0.75 and a beta of 1.51. Match Group, Inc. has a one year low of $27.66 and a one year high of $42.42.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. The firm 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 company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. Equities analysts forecast that Match Group, Inc. will post 1.98 earnings per share for the current fiscal year.

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.