ING Groep NV Lowers Stake in Match Group, Inc. (NASDAQ:MTCH)

ING Groep NV lessened its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 56.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,591 shares of the technology company's stock after selling 197,245 shares during the quarter. ING Groep NV owned about 0.06% of Match Group worth $5,812,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Empower Advisory Group LLC grew its stake in Match Group by 8.3% during the 3rd quarter. Empower Advisory Group LLC now owns 2,064,079 shares of the technology company's stock worth $78,105,000 after buying an additional 159,022 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Match Group by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 182,535 shares of the technology company's stock valued at $6,907,000 after purchasing an additional 9,462 shares during the last quarter. Bronte Capital Management Pty Ltd. grew its stake in shares of Match Group by 15.7% in the 3rd quarter. Bronte Capital Management Pty Ltd. now owns 1,307,151 shares of the technology company's stock valued at $49,463,000 after purchasing an additional 176,915 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Match Group in the 3rd quarter valued at approximately $747,000. Finally, Versor Investments LP grew its stake in shares of Match Group by 301.7% in the 3rd quarter. Versor Investments LP now owns 48,200 shares of the technology company's stock valued at $1,824,000 after purchasing an additional 36,200 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Stock Down 1.8 %

Shares of NASDAQ:MTCH traded down $0.55 during midday trading on Friday, reaching $30.71. The company's stock had a trading volume of 3,737,644 shares, compared to its average volume of 5,280,531. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 0.85 and a beta of 1.51. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $42.42. The business has a 50 day moving average price of $36.15 and a 200 day moving average price of $33.94.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MTCH shares. KeyCorp lowered their target price on Match Group from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday. Hsbc Global Res raised Match Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 5th. Stifel Nicolaus raised their price target on Match Group from $34.00 to $39.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Royal Bank of Canada reduced their price target on Match Group from $47.00 to $35.00 and set an "outperform" rating for the company in a report on Friday, November 8th. Finally, UBS Group reduced their price objective on Match Group from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Match Group currently has an average 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.