Itau Unibanco Holding S.A. Makes New $31,000 Investment in Match Group, Inc. (NASDAQ:MTCH)

Itau Unibanco Holding S.A. bought a new position in Match Group, Inc. (NASDAQ:MTCH) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 815 shares of the technology company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTCH. Starboard Value LP purchased a new position in shares of Match Group during the 3rd quarter worth about $361,605,000. Pacer Advisors Inc. raised its holdings in shares of Match Group by 88.5% in the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after buying an additional 2,940,667 shares during the period. FMR LLC boosted its holdings in Match Group by 10.4% during the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after acquiring an additional 524,144 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Match Group in the second quarter worth $100,848,000. Finally, Bank of New York Mellon Corp increased its stake in Match Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock worth $77,342,000 after purchasing an additional 12,379 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTCH. Truist Financial decreased their target price on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Royal Bank of Canada reduced their price target on shares of Match Group from $47.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, November 8th. KeyCorp dropped their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Morgan Stanley reduced their price objective on shares of Match Group from $36.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.73.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.

Match Group Stock Down 1.1 %

Shares of NASDAQ MTCH opened at $32.85 on Wednesday. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $42.42. The business’s 50 day moving average price is $35.17 and its 200 day moving average price is $34.04. The firm has a market cap of $8.25 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.92 and a beta of 1.47.

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.