Mario Gabelli’s 2022 Portfolio: 5 Tech Stock Picks

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

Number of Hedge Fund Holders: 55

Mario Gabelli’s Stake Value: $1,003,000

Percentage of Gabelli’s Portfolio: 0.01%

Match Group, Inc. (NASDAQ:MTCH) is a Dallas, Texas-based corporation that owns a global portfolio of dating platforms.

On June 9, Alexandra Steiger at Goldman Sachs gave Match Group, Inc. (NASDAQ:MTCH) stock a target price of $105 with a Buy rating. The company is also improving its relations with Google after it withdrew a temporary restraining order against the tech conglomerate in exchange for some concessions. Google agreed not to remove or reject Match Group apps from Google Play Store. Moreover, Match Group, Inc.’s (NASDAQ:MTCH) app updates that offer alternatives to Google Play Billing will also be approved. The concessions from Google and the positive response by Match Group, Inc. (NASDAQ:MTCH) should be considered a step in the right direction as Match Group is looking for a better App Store environment for its offerings.

Match Group, Inc. (NASDAQ:MTCH) was discussed by Arch Capital Management in its Q4 2021 investor letter. Here’s what the firm said:

“We are long Match Group stock because it is the dominant player in online dating, giving it immense and growing power over the population of single people worldwide. This may seem like a callous way to describe the business, but it is the proper way to look at it from an investment lens.

For those that are unaware, Match Group owns every popular online dating property outside of Bumble, Badoo, and Grindr. Its apps and services include Tinder, Hinge, Match.com. BLK, Chispa, and many others…

In conjunction with this letter, we have published a report on Match Group. You can find it here: https://www.archcapitalfund.com/letters”

Match Group, Inc. (NASDAQ:MTCH) was held by 55 hedge funds as of Q1 2022.