Intech Investment Management LLC has made a bold move with its recent investment activity. The investment management firm recently raised its position in Match Group, Inc. by an astounding 1,642.5% during the fourth quarter of the fiscal year 2021, according to recent filings submitted to the United States Securities and Exchange Commission (SEC). The move underscores confidence in the dating products provider as it continues to make significant strides in a crowded market.
The technology company’s portfolio includes well-known brands such as Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish and OurTime. Since being founded on February 12th of 2009 and based out of Dallas Texas, Match has established itself as one of the leading players in the industry.
Several research analysts have shared mixed reviews regarding Match Group’s performance in recent months. Barclays’ recent report on May 4th revealed that they had decreased their price objective from $52.00 to $50.00 while Deutsche Bank Aktiengesellschaft decreased their price objective from $65.00 to $60. Still, other firms have taken a more bullish stance towards the brand with Piper Sandler boosting their price target to $27.00 from $20.00 on Feburary 7th.
Despite these differing opinions in market sentiment towards Match Group Inc., Intech Investment Management LLC seems unfazed by them all as they continue building their position within the organization with great momentum. At present Intech owns approximately 0.07% of Match Group which is equal to a staggering figure of around 186,468 shares worth approximately $7,737,000 by the end of this fiscal year’s reporting period.
Looking at broader market trends specific to Match Group Inc provides some context for investors and stakeholders hoping for continued growth and success within existing holdings like Intech Investment Management LLC.
According to Bloomberg data compiled over time across many different industry sectors, there is a greater than 60% consensus rating of “Moderate Buy” and a target price of $59.14 for Match Group. While many investment experts are only giving the company’s product portfolio a hold rating, it is clear that investors are still interested in seeing how this field shakes out with companies like Intech continuing to forge ahead with their bullish positions in the sector.
In closing, while some may be skeptical of recent growth rates or performance metrics when it comes to Match Group Inc., others including Intech Investment Management LLC believe that the technology company’s opportunities for future success will outweigh any challenges along the way. Only time will tell – but regardless of industry sentiment or analyst ratings, it is clear that many investors are paying close attention to what happens next within this dynamic field.
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Institutional Investors Show Increasing Interest in Match Group and Its Dating Products Amid COVID-19 Uncertainty
Match Group, the technology company that operates numerous dating products including Tinder and Match, has seen an increase in investment from institutional investors recently. Edgewood Management LLC raised its stake in the company by 18.5% during Q3 2019 to reach 18,394,460 shares worth $878,335,000 after its acquisition of an additional 2,868,749 shares in the last quarter of the year. Similarly, Allspring Global Investments Holdings LLC acquired 2,647,743 shares worth $149,062,000 in Q4 2019 for a total gain of approximately 280.2%. Flossbach Von Storch AG now owns over eight million shares of Match Group stock after acquiring an additional 1,547,256 shares during Q4 – a rise of more than 23%. Neuberger Berman Group LLC has increased its holdings in Match Group by a staggering 350.4%, while Point72 Asset Management L.P. added over three-quarters of a million shares to their portfolio to increase their stake by more than two-and-a-half times.
Additionally, it was revealed that Jared F. Sine sold around $293k worth of his personal holdings in Match Group’s stock on March 2nd at an average price of $41.27/share – which amounts to almost half his reported insider ownership position according to sources.
Match Group’s performance data shows that they have been operating steadily despite temporary setbacks due to COVID-19. The firm’s fifty-day moving average is presently $35.46 with MTCH having opened at $32.02 as assessed on Friday trading day last week (data accessed following information available as at May or June). The business’s PE ratio is reportedly set at 30.50 while analysts are predicting a price-to-earnings-growth ratio of about 0.63 and beta just above one-point-three four (1.34). Their one-year trading range currently varies between $30.73 (the 52-week lows for MTCH) and $87.46, their yearly high.
Match Group’s net margin reportedly stands at 9.51%, with analysts predicting earnings per share (EPS) of approximately 2.03 on an annual basis in the current year—after revenue totalling $787.12mn was recorded from online dating services during the first quarter – down by about 1.4% YoY amidst the COVID19 situation, while earnings per share stood at $0.42 despite uncertainty in a world where people can’t physically go out and date anymore – surpassing market consensus estimates by two cents ($0.02).
