Bronte Capital Management Pty Ltd. Purchases 115,135 Shares of Match Group, Inc. (NASDAQ:MTCH)

Bronte Capital Management Pty Ltd. raised its position in Match Group, Inc. (NASDAQ:MTCH) by 18.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 751,733 shares of the technology company’s stock after acquiring an additional 115,135 shares during the period. Match Group comprises 2.6% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 15th biggest position. Bronte Capital Management Pty Ltd.’s holdings in Match Group were worth $27,438,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its holdings in shares of Match Group by 52.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,470 shares of the technology company’s stock valued at $200,000 after purchasing an additional 1,889 shares during the period. Gryphon Financial Partners LLC acquired a new position in shares of Match Group during the 4th quarter worth approximately $149,000. Charles Schwab Investment Management Inc. raised its stake in Match Group by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,466,837 shares of the technology company’s stock valued at $90,040,000 after acquiring an additional 51,179 shares during the period. Leuthold Group LLC acquired a new stake in Match Group during the 4th quarter valued at $4,782,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in Match Group during the fourth quarter worth $239,000. 94.05% of the stock is owned by institutional investors.

Match Group Stock Performance

Shares of MTCH stock traded up $0.76 during trading hours on Thursday, hitting $30.58. 6,999,120 shares of the company were exchanged, compared to its average volume of 5,814,440. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $49.24. The company has a 50 day simple moving average of $33.65 and a two-hundred day simple moving average of $34.31. The firm has a market cap of $8.20 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The business had revenue of $860.00 million for the quarter, compared to the consensus estimate of $855.77 million. During the same period in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Match Group, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Ratings Changes

MTCH has been the topic of a number of research reports. Citigroup upped their price target on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. dropped their price target on shares of Match Group from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. StockNews.com raised Match Group from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Piper Sandler reiterated an “overweight” rating and set a $45.00 price target on shares of Match Group in a research report on Wednesday, March 27th. Finally, Morgan Stanley downgraded shares of Match Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $53.00 to $37.00 in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Match Group has an average rating of “Moderate Buy” and an average target price of $42.11.

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.