Redwood Investment Management LLC Makes New $2.79 Million Investment in Match Group, Inc. (NASDAQ:MTCH)

Redwood Investment Management LLC bought a new stake in Match Group, Inc. (NASDAQ:MTCH) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 73,757 shares of the technology company’s stock, valued at approximately $2,789,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Life Insurance Co. increased its stake in shares of Match Group by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after buying an additional 297 shares during the period. Fulton Bank N.A. raised its holdings in Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after purchasing an additional 299 shares during the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Match Group by 8.9% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after purchasing an additional 357 shares during the period. Empirical Finance LLC boosted its stake in shares of Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after purchasing an additional 384 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position 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 buying an additional 455 shares during the period. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 0.0 %

NASDAQ:MTCH opened at $32.86 on Thursday. The stock’s fifty day moving average is $35.09 and its two-hundred day moving average is $34.03. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $42.42. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.47.

Wall Street Analyst Weigh In

MTCH has been the topic of several recent research reports. Royal Bank of Canada dropped their price target on shares of Match Group from $47.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Susquehanna dropped their target price on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Barclays decreased their price target on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, November 8th. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Truist Financial cut their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a 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 company’s stock. Based on data from MarketBeat.com, Match Group has a consensus rating of “Moderate Buy” and an average target price of $40.73.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction 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 transaction, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.77% of the company’s stock.

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.