Y Intercept Hong Kong Ltd Makes New Investment in Match Group, Inc. (NASDAQ:MTCH)

Y Intercept Hong Kong Ltd bought a new stake in shares of Match Group, Inc. (NASDAQ:MTCH) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,387 shares of the technology company’s stock, valued at approximately $2,134,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Match Group by 2.3% in the third quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after acquiring an additional 391,977 shares in the last quarter. Starboard Value LP purchased a new stake in shares of Match Group in the 3rd quarter worth about $361,605,000. Pacer Advisors Inc. boosted its stake in shares of Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after purchasing an additional 2,940,667 shares in the last quarter. FMR LLC increased its position in shares of Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after buying an additional 524,144 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Match Group in the second quarter worth about $100,848,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MTCH. KeyCorp cut their price objective on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Morgan Stanley dropped their price target on Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Bank of America reissued a “neutral” rating and set a $35.00 price objective (down previously from $50.00) on shares of Match Group in a research report on Thursday, November 7th. Finally, Susquehanna reduced their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.73.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.77% of the company’s stock.

Match Group Stock Up 1.4 %

Shares of NASDAQ MTCH opened at $33.39 on Tuesday. The firm has a market cap of $8.38 billion, a P/E ratio of 14.91, a PEG ratio of 0.91 and a beta of 1.47. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $42.42. The company has a 50 day moving average of $34.81 and a 200 day moving average of $34.13.

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.