5 Stocks Reddit’s WallStreetBets is Buying Before Earnings

2. Match Group, Inc. (NASDAQ: MTCH)

Number of Hedge Fund Holders: 68    

Match Group, Inc. (NASDAQ: MTCH) is placed second on our list of 10 stocks Reddit’s WallStreetBets is buying before earnings. The firm is headquartered in Texas and owns and operates dating platforms. Some of the platforms it runs include Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, among others. The company will post second quarter earnings after the close of market on August 3. The share price of the firm has soared as COVID-19 vaccinations allow for dating to resume across the globe. 

On July 21, investment advisory Truist reiterated a Buy rating on Match Group, Inc. (NASDAQ: MTCH) stock and raised the price target to $190 from $160, highlighting the improving fundamentals of the firm in the post-pandemic economy. 

At the end of the first quarter of 2021, 68 hedge funds in the database of Insider Monkey held stakes worth $2.9 billion in Match Group, Inc. (NASDAQ: MTCH), down from 72 in the preceding quarter worth $3.7 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Match Group, Inc. (NASDAQ: MTCH) was one of them. Here is what the fund said:

“In addition to the new issue market, we have been tactically adding growth exposure. Our largest new position was Match Group, the global leader in the online dating space that was spun off by Interactive Corp. in 2020. Singles have put their life plans on hold during the pandemic but continue to want to meet people. Match was negative impacted by COVID, especially in markets like India, but the business is very profitable with high margins and is driving growth through international expansion, increasing users and better monetization and engagement.”