Sumitomo Mitsui Trust Group Inc. Sells 79,958 Shares of Match Group, Inc. (NASDAQ:MTCH)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Match Group, Inc. (NASDAQ:MTCH) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 497,927 shares of the technology company’s stock after selling 79,958 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Match Group worth $18,842,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MTCH. Sumitomo Life Insurance Co. grew its position in Match Group by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after buying an additional 297 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after purchasing an additional 299 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in shares of Match Group by 8.9% in the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after purchasing an additional 357 shares during the period. State of Alaska Department of Revenue raised its stake in Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 455 shares in the last quarter. Finally, Quarry LP raised its stake in Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after purchasing an additional 461 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTCH. UBS Group decreased their target price on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company lowered their price objective on shares of 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. Susquehanna reduced their target price on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Barclays lowered their price target on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Hsbc Global Res raised Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.73.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $30.71 on Monday. The company’s 50 day moving average price is $36.15 and its 200-day moving average price is $33.98. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $42.42. The company has a market capitalization of $7.92 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 0.85 and a beta of 1.51.

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.