173,414 Shares in Match Group, Inc. (NASDAQ:MTCH) Acquired by Portolan Capital Management LLC

Portolan Capital Management LLC acquired a new position in Match Group, Inc. (NASDAQ:MTCH) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 173,414 shares of the technology company’s stock, valued at approximately $6,562,000.

A number of other institutional investors have also recently made changes to their positions in MTCH. Venturi Wealth Management LLC raised its holdings in Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Match Group during the 3rd quarter worth approximately $31,000. Quarry LP boosted its stake in shares of Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group during the third quarter valued at about $57,000. Finally, Mather Group LLC. increased its holdings in shares of 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 buying an additional 794 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $32.85 on Wednesday. The business’s 50 day moving average price is $35.17 and its 200-day moving average price is $34.04. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $42.42. The firm has a market capitalization of $8.25 billion, a PE ratio of 14.67, a P/E/G ratio of 0.92 and a beta of 1.47.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MTCH. Wells Fargo & Company reduced their target price on Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Barclays lowered their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Bank of America reaffirmed a “neutral” rating and issued a $35.00 price target (down from $50.00) on shares of Match Group in a report on Thursday, November 7th. Morgan Stanley decreased their price target on Match Group from $36.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Finally, UBS Group cut their price target on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.73.

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.