Match Group Inc. $MTCH Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC decreased its holdings in Match Group Inc. (NASDAQ:MTCH) by 71.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,868 shares of the technology company’s stock after selling 72,834 shares during the period. Redwood Investment Management LLC’s holdings in Match Group were worth $887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of MTCH. Activest Wealth Management grew its stake in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after purchasing an additional 848 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Match Group in the 3rd quarter valued at about $28,000. Whittier Trust Co. grew its position in shares of Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after buying an additional 431 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after buying an additional 356 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Match Group during the fourth quarter worth approximately $38,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the transaction, the director owned 16,218 shares in the company, valued at $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.71% of the stock is currently owned by company insiders.

Match Group Trading Up 2.9%

MTCH stock opened at $40.54 on Tuesday. The stock has a market cap of $9.46 billion, a P/E ratio of 15.47, a PEG ratio of 0.63 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.03. The company’s 50 day moving average is $37.16 and its two-hundred day moving average is $34.23.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The business had revenue of $863.93 million during the quarter, compared to analysts’ expectations of $854.70 million. During the same quarter in the prior year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts predict that Match Group Inc. will post 3.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MTCH. Truist Financial set a $37.00 target price on shares of Match Group in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Barclays raised their price objective on shares of Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.29.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.