Redwood Investment Management LLC Trims Stock Holdings in Match Group Inc. $MTCH

Redwood Investment Management LLC reduced its position in Match Group Inc. (NASDAQ:MTCH) by 71.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 28,868 shares of the technology company’s stock after selling 72,834 shares during the quarter. Redwood Investment Management LLC’s holdings in Match Group were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MTCH. Woodline Partners LP purchased a new position in Match Group during the 1st quarter worth $662,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Match Group by 20.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after buying an additional 891 shares during the period. First Trust Advisors LP boosted its stake in shares of Match Group by 45.9% during the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock worth $20,070,000 after buying an additional 204,472 shares during the period. Amundi grew its holdings in shares of Match Group by 1,477.6% during the second quarter. Amundi now owns 358,709 shares of the technology company’s stock worth $11,637,000 after buying an additional 335,971 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new position in Match Group in the 2nd quarter valued at about $298,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Trading Up 2.9%

NASDAQ MTCH opened at $40.54 on Tuesday. The business’s 50 day moving average is $37.16 and its two-hundred day moving average is $34.23. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.03. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 0.63 and a beta of 1.30.

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

Insider Transactions at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MTCH. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price target on Match Group in a research note on Wednesday, May 6th. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.29.

Match Group Company Profile

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.