Invenomic Capital Management LP Lowers Holdings in Match Group, Inc. (NASDAQ:MTCH)

Invenomic Capital Management LP decreased its holdings in Match Group, Inc. (NASDAQ:MTCH) by 16.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 382,058 shares of the technology company’s stock after selling 74,073 shares during the period. Invenomic Capital Management LP owned about 0.15% of Match Group worth $14,457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Versor Investments LP increased its position in shares of Match Group by 301.7% during the third quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock worth $1,824,000 after purchasing an additional 36,200 shares in the last quarter. Starboard Value LP acquired a new position in shares of Match Group during the third quarter worth $361,605,000. DekaBank Deutsche Girozentrale increased its position in shares of Match Group by 146.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 140,090 shares of the technology company’s stock worth $4,929,000 after purchasing an additional 83,166 shares in the last quarter. Aviance Capital Partners LLC acquired a new position in shares of Match Group during the third quarter worth $2,170,000. Finally, Mawer Investment Management Ltd. increased its position in shares of Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock worth $24,344,000 after purchasing an additional 267,890 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of the company’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 completion of the transaction, the director now owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.77% of the company’s stock.

Match Group Stock Up 0.0 %

MTCH stock opened at $33.21 on Tuesday. The company’s 50-day simple moving average is $35.26 and its 200-day simple moving average is $34.03. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $42.42. The firm has a market cap of $8.34 billion, a P/E ratio of 14.82, a PEG ratio of 0.90 and a beta of 1.47.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays reduced their price target on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Truist Financial reduced their price target on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company cut their target price on Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. HSBC raised Match Group from a “hold” rating to a “buy” rating and set a $43.20 target price on the stock in a research report on Monday, August 5th. Finally, Bank of America reissued a “neutral” rating and issued a $35.00 target price (down from $50.00) on shares of Match Group in a research report on Thursday, November 7th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.73.

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.