Match Group Faces Downgrade as Institutional Sentiment Shifts
On November 7, 2024, B of A Securities adjusted its assessment of Match Group (BRSE:4MGN) from Buy to Neutral. This change follows a broader trend of fluctuating investor confidence.
Institutional Ownership Trends
Currently, 1,182 funds and institutions hold shares in Match Group, reflecting a decline of 72 owners, or 5.74%, from the previous quarter. The average portfolio allocation in 4MGN has risen to 0.19%, with a 5.00% increase noted. Additionally, institutional holdings surged by 4.93% over the last three months, bringing total shares owned to 307,753K.
UBS Group increased its holdings to 13,612K shares, now holding 5.28% of the company. This is an increase of 11.37% from their last report, despite an overall decrease in portfolio allocation by 80.05% in the last quarter.
Elliott Investment Management significantly boosted its stake from 4,125K shares to 11,705K shares, now representing 4.54% ownership. This marks a remarkable increase of 64.76%, along with a 121.06% rise in their portfolio allocation in the last quarter.
T. Rowe Price Investment Management raised its position to 10,995K shares (4.26% ownership), up from 10,208K shares, reflecting a 7.15% increase. However, the firm reduced its overall portfolio allocation by 6.97% over the same period.
The Vanguard Total Stock Market Index Fund Investor Shares currently holds 8,371K shares (3.25% ownership), a slight decrease of 2.20% from 8,556K shares in the prior filing. Its portfolio allocation in 4MGN has also decreased by 20.32% in the last quarter.
XLC – The Communication Services Select Sector SPDR Fund increased its holdings to 7,443K shares, contributing to a 2.89% ownership stake. This reflects a growth of 6.02% from the previous report, although the firm cut its portfolio allocation by 14.46% over the last quarter.
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