5 Worst-Performing S&P 500 Stocks in 2022

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

Year to Date Return as of September 16: -58.50%

Number of Hedge Fund Holders: 54

Match Group, Inc. (NASDAQ:MTCH) is an internet and technology company that provides dating services and products worldwide. The company owns and operates a variety of dating platforms. Some of its most notable dating services include Tinder, Match.com, Meetic, and Hinge among others.

On August 2, Match Group, Inc. (NASDAQ:MTCH) announced earnings for the second quarter of fiscal 2022. The company reported earnings per share of $0.69 and beat expectations by $0.07. The company’s revenue for the quarter amounted to $794.5 million and fell short of Wall Street estimates by $10.9 million. As of September 16, Match Group, Inc. (NASDAQ:MTCH) has lost 58.50% of its value since the beginning of 2022.

On September 14, Loop Capital analyst Laura Champine slashed her price target on Match Group, Inc. (NASDAQ:MTCH) to $60 from $70 and downgraded the stock to Hold from Buy.

At the close of Q2 2022, 54 hedge funds held stakes in Match Group, Inc. (NASDAQ:MTCH) worth $847 million. This is compared to 55 hedge funds in Q1 2022 with stakes worth $1.87 billion.