Kornitzer Capital Management Inc. KS Acquires 59,630 Shares of Match Group, Inc. (NASDAQ:MTCH)

Kornitzer Capital Management Inc. KS boosted its position in Match Group, Inc. (NASDAQ:MTCH) by 32.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 244,500 shares of the technology company’s stock after purchasing an additional 59,630 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Match Group were worth $8,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of MTCH. Moneta Group Investment Advisors LLC lifted its position in shares of Match Group by 107,412.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock worth $984,604,000 after acquiring an additional 23,709,043 shares in the last quarter. Boston Partners purchased a new stake in shares of Match Group in the third quarter worth $276,406,000. Norges Bank bought a new position in Match Group in the fourth quarter valued at $120,129,000. Wellington Management Group LLP increased its stake in Match Group by 34.7% in the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after acquiring an additional 2,130,646 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Match Group by 5.6% in the first quarter. BlackRock Inc. now owns 35,749,193 shares of the technology company’s stock valued at $1,372,412,000 after acquiring an additional 1,889,531 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 0.1 %

MTCH traded down $0.04 on Friday, hitting $32.18. The company had a trading volume of 4,043,751 shares, compared to its average volume of 4,150,821. The firm has a market cap of $8.62 billion, a P/E ratio of 14.11, a PEG ratio of 0.51 and a beta of 1.41. Match Group, Inc. has a 1 year low of $27.85 and a 1 year high of $49.24. The company’s fifty day moving average price is $35.00 and its 200 day moving average price is $34.81.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.32. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The business had revenue of $866.00 million during the quarter, compared to the consensus estimate of $861.31 million. During the same period in the previous year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts predict that Match Group, Inc. will post 2.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MTCH. Morgan Stanley cut Match Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $53.00 to $37.00 in a research note on Thursday. UBS Group raised their price objective on shares of Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Piper Sandler reiterated an “overweight” rating and set a $45.00 target price on shares of Match Group in a report on Wednesday, March 27th. Raymond James began coverage on shares of Match Group in a report on Thursday, April 4th. They set a “market perform” rating for the company. Finally, KeyCorp raised their price target on shares of Match Group from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.95.

Match Group 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.