Minneapolis Portfolio Management Group LLC Makes New Investment in Match Group, Inc. (NASDAQ:MTCH)

Minneapolis Portfolio Management Group LLC bought a new stake in Match Group, Inc. (NASDAQ:MTCH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 531,110 shares of the technology company’s stock, valued at approximately $20,097,000. Match Group comprises 2.6% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 23rd largest position. Minneapolis Portfolio Management Group LLC owned 0.20% of Match Group at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MTCH. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Match Group by 1.2% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 70,235 shares of the technology company’s stock valued at $2,658,000 after purchasing an additional 800 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of Match Group by 30.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 294,104 shares of the technology company’s stock valued at $11,129,000 after purchasing an additional 67,921 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Match Group by 5.9% in the third quarter. Nisa Investment Advisors LLC now owns 30,626 shares of the technology company’s stock valued at $1,159,000 after purchasing an additional 1,700 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 455 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Match Group by 79.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 156,451 shares of the technology company’s stock valued at $5,793,000 after buying an additional 69,270 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MTCH. Truist Financial raised their price objective on shares of Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Morgan Stanley dropped their target price on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada lifted their price target on shares of Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $38.00 price target on shares of Match Group in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Match Group has an average rating of “Moderate Buy” and an average price target of $41.58.

Match Group Price Performance

NASDAQ:MTCH traded down $0.34 on Friday, reaching $35.69. The stock had a trading volume of 4,559,430 shares, compared to its average volume of 3,193,243. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 0.75 and a beta of 1.51. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $42.42. The firm’s fifty day moving average is $36.96 and its two-hundred day moving average is $33.89.

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.