CNB Bank Decreases Position in Match Group, Inc. (NASDAQ:MTCH)

CNB Bank reduced its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 19.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,630 shares of the technology company’s stock after selling 388 shares during the period. CNB Bank’s holdings in Match Group were worth $59,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Money Concepts Capital Corp lifted its position in shares of Match Group by 27.0% during the 4th quarter. Money Concepts Capital Corp now owns 1,209 shares of the technology company’s stock worth $50,000 after purchasing an additional 257 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of Match Group by 4.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 6,936 shares of the technology company’s stock worth $754,000 after purchasing an additional 280 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Match Group by 2.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 10,192 shares of the technology company’s stock worth $487,000 after purchasing an additional 283 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its position in shares of Match Group by 6.9% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 4,480 shares of the technology company’s stock worth $488,000 after purchasing an additional 290 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Match Group by 10.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,460 shares of the technology company’s stock worth $144,000 after purchasing an additional 317 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MTCH. KeyCorp lifted their price objective on shares of Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. reduced 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. Morgan Stanley cut shares of Match Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $53.00 to $37.00 in a research report on Thursday. Citigroup boosted their price target on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Finally, Raymond James initiated coverage on shares of Match Group in a research report on Thursday, April 4th. They issued a “market perform” rating for the company. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.95.

Match Group Stock Performance

MTCH stock traded down $0.04 during trading on Friday, reaching $32.18. 4,043,751 shares of the company were exchanged, compared to its average volume of 4,150,821. The company 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 52-week low of $27.85 and a 52-week high of $49.24. The stock’s 50 day moving average price is $35.00 and its 200 day moving average price is $34.81.

Match Group (NASDAQ:MTCH) last released 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. The firm had revenue of $866.00 million for the quarter, compared to the consensus estimate of $861.31 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. As a group, equities research analysts forecast that Match Group, Inc. will post 2.17 EPS for the current year.

About Match Group

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.