Franklin Resources Inc. Decreases Stake in Match Group, Inc. (NASDAQ:MTCH)

Franklin Resources Inc. lessened its stake in shares of Match Group, Inc. (NASDAQ:MTCHGet Rating) by 19.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,331,688 shares of the technology company’s stock after selling 327,233 shares during the period. Franklin Resources Inc. owned 0.47% of Match Group worth $92,806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Match Group by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock worth $3,170,951,000 after acquiring an additional 500,418 shares during the period. BlackRock Inc. raised its holdings in shares of Match Group by 16.8% during the 1st quarter. BlackRock Inc. now owns 27,564,956 shares of the technology company’s stock worth $2,997,413,000 after acquiring an additional 3,955,469 shares during the period. Edgewood Management LLC raised its holdings in shares of Match Group by 1.3% during the 1st quarter. Edgewood Management LLC now owns 16,721,962 shares of the technology company’s stock worth $1,818,346,000 after acquiring an additional 216,992 shares during the period. State Street Corp raised its holdings in shares of Match Group by 0.5% during the 1st quarter. State Street Corp now owns 12,492,462 shares of the technology company’s stock worth $1,358,430,000 after acquiring an additional 58,027 shares during the period. Finally, Sands Capital Management LLC raised its holdings in shares of Match Group by 3.3% during the 1st quarter. Sands Capital Management LLC now owns 7,404,306 shares of the technology company’s stock worth $805,144,000 after acquiring an additional 239,292 shares during the period. Hedge funds and other institutional investors own 94.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MTCH. Cowen reduced their price target on Match Group from $85.00 to $80.00 in a report on Thursday, November 3rd. Loop Capital downgraded Match Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $70.00 to $60.00 in a research report on Wednesday, September 14th. The Goldman Sachs Group cut their price objective on Match Group from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, October 18th. Jefferies Financial Group cut their price objective on Match Group from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Finally, JPMorgan Chase & Co. cut their price objective on Match Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. Seven investment analysts have rated the stock with a hold rating and sixteen 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 a consensus target price of $85.13.

Match Group Stock Performance

Shares of MTCH opened at $48.27 on Thursday. The stock has a 50-day simple moving average of $47.39 and a 200-day simple moving average of $61.94. The stock has a market capitalization of $13.48 billion, a PE ratio of 146.28, a PEG ratio of 1.15 and a beta of 1.16. Match Group, Inc. has a 1 year low of $40.23 and a 1 year high of $141.40.

Match Group (NASDAQ:MTCHGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The technology company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $809.55 million during the quarter, compared to analysts’ expectations of $793.03 million. Match Group had a net margin of 3.39% and a negative return on equity of 94.07%. Analysts predict that Match Group, Inc. will post 1.4 EPS for the current year.

About Match Group

(Get Rating)

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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