CIBC Asset Management Inc Acquires 4,042 Shares of Match Group, Inc. (NASDAQ:MTCH)

CIBC Asset Management Inc lifted its holdings in shares of Match Group, Inc. (NASDAQ:MTCH – Get Rating) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,240 shares of the technology company’s stock after purchasing an additional 4,042 shares during the quarter. CIBC Asset Management Inc’s holdings in Match Group were worth $3,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Institutional & Family Asset Management LLC increased its stake in Match Group by 42.1% during the 2nd quarter. Institutional & Family Asset Management LLC now owns 577 shares of the technology company’s stock worth $40,000 after acquiring an additional 171 shares during the period. Capital Impact Advisors LLC raised its stake in Match Group by 3.4% in the second quarter. Capital Impact Advisors LLC now owns 5,720 shares of the technology company’s stock valued at $399,000 after purchasing an additional 189 shares in the last quarter. Zions Bancorporation N.A. lifted its position in Match Group by 122.3% during the second quarter. Zions Bancorporation N.A. now owns 409 shares of the technology company’s stock worth $29,000 after purchasing an additional 225 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Match Group by 7.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,104 shares of the technology company’s stock worth $217,000 after buying an additional 225 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Match Group by 38.9% in the 3rd quarter. Allworth Financial LP now owns 817 shares of the technology company’s stock valued at $39,000 after buying an additional 229 shares during the period. 93.53% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Down 2.3 %

MTCH opened at $50.85 on Wednesday. Match Group, Inc. has a twelve month low of $38.64 and a twelve month high of $121.49. The company has a fifty day moving average of $44.89 and a 200-day moving average of $52.25. The stock has a market cap of $14.20 billion, a PE ratio of 154.10, a price-to-earnings-growth ratio of 0.82 and a beta of 1.24.

Match Group (NASDAQ:MTCH – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The technology company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The business had revenue of $809.55 million for the quarter, compared to analyst estimates of $793.03 million. Match Group had a negative return on equity of 94.07% and a net margin of 3.39%. Sell-side analysts anticipate that Match Group, Inc. will post 1.4 EPS for the current fiscal year.

Analyst Ratings Changes

MTCH has been the topic of several analyst reports. Cowen reduced their price target on shares of Match Group from $85.00 to $80.00 in a research report on Thursday, November 3rd. The Goldman Sachs Group lowered their price target on Match Group from $80.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, October 18th. Evercore ISI reduced their price objective on Match Group to $65.00 in a research note on Thursday, October 13th. Needham & Company LLC began coverage on Match Group in a research report on Tuesday, January 3rd. They issued a “buy” rating on the stock. Finally, Loop Capital increased their target price on shares of Match Group from $45.00 to $50.00 in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Match Group currently has an average rating of “Moderate Buy” and an average price target of $81.72.

About Match Group

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Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.