Bridgewater Associates LP Raises Position in Match Group, Inc. (NASDAQ:MTCH)

Bridgewater Associates LP grew its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 618.9% during the third quarter, Holdings Channel reports. The institutional investor owned 402,148 shares of the technology company’s stock after purchasing an additional 346,212 shares during the quarter. Bridgewater Associates LP’s holdings in Match Group were worth $15,217,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in Match Group by 88.5% in the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after buying an additional 2,940,667 shares during the period. FMR LLC raised its position in shares of Match Group by 10.4% in the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after acquiring an additional 524,144 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Match Group in the 2nd quarter valued at approximately $100,848,000. Bank of New York Mellon Corp boosted its position in shares of Match Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock valued at $77,342,000 after purchasing an additional 12,379 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Match Group by 75.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after buying an additional 977,090 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. HSBC upgraded shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price target on the stock in a report on Monday, August 5th. Truist Financial decreased their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, November 8th. Citigroup lifted their target price on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Hsbc Global Res upgraded Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.73.

Match Group Price Performance

Shares of MTCH stock opened at $32.51 on Thursday. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 0.90 and a beta of 1.51. The company’s fifty day moving average price is $35.49 and its 200-day moving average price is $33.98. Match Group, Inc. has a one year low of $27.66 and a one year high of $42.42.

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.