CIBC Asset Management Inc Boosts Holdings in Match Group Inc. $MTCH

CIBC Asset Management Inc boosted its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 62.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,356 shares of the technology company’s stock after buying an additional 20,085 shares during the quarter. CIBC Asset Management Inc’s holdings in Match Group were worth $1,691,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Woodline Partners LP bought a new stake in shares of Match Group during the 1st quarter valued at $662,000. Northwestern Mutual Wealth Management Co. increased its position in Match Group by 20.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after buying an additional 891 shares in the last quarter. First Trust Advisors LP increased its position in Match Group by 45.9% in the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock worth $20,070,000 after buying an additional 204,472 shares in the last quarter. Amundi raised its stake in shares of Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company’s stock worth $11,637,000 after buying an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC bought a new position in shares of Match Group in the second quarter worth about $298,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the transaction, the director owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MTCH. Morgan Stanley boosted their price objective on Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Citigroup raised their target price on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada increased their price objective on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Match Group has a consensus rating of “Hold” and a consensus target price of $41.07.

Match Group Trading Down 0.7%

NASDAQ MTCH opened at $34.19 on Tuesday. The stock’s 50 day moving average is $34.84 and its 200 day moving average is $32.88. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $39.20. The stock has a market cap of $7.98 billion, a PE ratio of 13.05, a P/E/G ratio of 0.55 and a beta of 1.33.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group’s payout ratio is 30.53%.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.