Aviance Capital Partners LLC Buys New Position in Match Group, Inc. (NASDAQ:MTCH)

Aviance Capital Partners LLC purchased a new stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 57,349 shares of the technology company's stock, valued at approximately $2,170,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in shares of Match Group during the 2nd quarter valued at about $100,848,000. Pacer Advisors Inc. boosted its stake in shares of Match Group by 88.5% in the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company's stock valued at $190,279,000 after purchasing an additional 2,940,667 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Match Group during the 2nd quarter valued at $49,053,000. Dimensional Fund Advisors LP raised its position in Match Group by 75.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company's stock worth $69,018,000 after purchasing an additional 977,090 shares during the period. Finally, Minneapolis Portfolio Management Group LLC purchased a new stake in Match Group during the third quarter valued at about $20,097,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Performance

Shares of NASDAQ:MTCH traded down $0.22 during midday trading on Tuesday, reaching $30.29. 2,976,162 shares of the company's stock traded hands, compared to its average volume of 5,262,673. The stock has a 50 day moving average of $36.04 and a 200 day moving average of $33.98. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 0.85 and a beta of 1.51. Match Group, Inc. has a one year low of $27.66 and a one year high of $42.42.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays decreased their price objective on Match Group from $55.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. HSBC upgraded shares of Match Group from a "hold" rating to a "buy" rating and set a $43.20 price objective on the stock in a research report on Monday, August 5th. StockNews.com lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Friday. Wells Fargo & Company lowered their price target on Match Group from $38.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada cut their price objective on Match Group from $47.00 to $35.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Match Group has an average rating of "Moderate Buy" and a consensus 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.