Pinnacle Associates Ltd. Sells 102,112 Shares of Match Group, Inc. (NASDAQ:MTCH)

Pinnacle Associates Ltd. lowered its position in Match Group, Inc. (NASDAQ:MTCH) by 26.0% in the third quarter, HoldingsChannel.com reports. The fund owned 291,026 shares of the technology company’s stock after selling 102,112 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Match Group were worth $10,622,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in shares of Match Group in the first quarter valued at approximately $33,000. Quarry LP raised its position in Match Group by 54.5% in the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after purchasing an additional 461 shares during the last quarter. Mather Group LLC. raised its position in Match Group by 87.6% in the 2nd quarter. Mather Group LLC. now owns 1,700 shares of the technology company’s stock worth $52,000 after purchasing an additional 794 shares during the last quarter. Sentry Investment Management LLC bought a new position in Match Group in the 1st quarter worth approximately $57,000. Finally, International Assets Investment Management LLC bought a new position in Match Group in the 2nd quarter worth approximately $61,000. Institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 0.1 %

Shares of NASDAQ MTCH opened at $36.89 on Thursday. The firm has a market cap of $9.80 billion, a PE ratio of 16.04, a PEG ratio of 0.77 and a beta of 1.51. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $42.42. The company has a fifty day moving average price of $37.00 and a 200 day moving average price of $33.84.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The firm had revenue of $864.07 million during the quarter, compared to analyst estimates of $856.51 million. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. Equities research analysts forecast that Match Group, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on MTCH shares. Morgan Stanley dropped their price objective on shares of Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Citigroup boosted their price objective on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Hsbc Global Res upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Evercore ISI upgraded shares of Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, TD Cowen upped their target price on shares of Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.78.

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.