Investment Management Corp of Ontario Acquires Shares of 8,376 Match Group, Inc. (NASDAQ:MTCH)

Investment Management Corp of Ontario bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,376 shares of the technology company’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also made changes to their positions in MTCH. Venturi Wealth Management LLC boosted its holdings in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Match Group during the 3rd quarter valued at approximately $31,000. Quarry LP boosted its stake in shares of Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after buying an additional 461 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group in the third quarter worth $57,000. Finally, International Assets Investment Management LLC acquired a new stake in Match Group in the second quarter valued at $61,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Match Group

In other news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on MTCH shares. Barclays reduced their price objective on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Susquehanna lowered their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. 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 report on Tuesday, October 8th. Morgan Stanley decreased their target price on Match Group from $36.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Finally, StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.73.

Match Group Price Performance

Shares of MTCH stock opened at $32.93 on Monday. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $42.42. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.47. The business has a 50 day simple moving average of $34.90 and a 200 day simple moving average of $34.10.

Match Group Company 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.