CIBC Private Wealth Group LLC Buys 7,000 Shares of Match Group, Inc. (NASDAQ:MTCH)

CIBC Private Wealth Group LLC raised its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 266.5% during the fourth quarter, HoldingsChannel reports. The fund owned 9,627 shares of the technology company’s stock after acquiring an additional 7,000 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Match Group were worth $307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Match Group by 94.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock valued at $1,947,000 after purchasing an additional 28,884 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after buying an additional 939,078 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Match Group by 56.8% in the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company’s stock worth $78,733,000 after buying an additional 866,026 shares during the period. Penn Davis Mcfarland Inc. lifted its stake in shares of Match Group by 1.8% during the 4th quarter. Penn Davis Mcfarland Inc. now owns 478,913 shares of the technology company’s stock worth $15,665,000 after acquiring an additional 8,414 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Match Group during the 3rd quarter valued at $2,134,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the transaction, the president now directly owns 1,690 shares of the company’s stock, valued at $55,533.40. This represents a 99.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MTCH shares. Loop Capital decreased their target price on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $33.00 price objective (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. UBS Group reduced their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Finally, New Street Research lowered Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.68.

Match Group Price Performance

Shares of MTCH stock opened at $28.74 on Friday. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84. The stock’s fifty day moving average price is $32.61 and its 200 day moving average price is $33.61. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. As a group, equities research analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.64%. Match Group’s payout ratio is 37.62%.

Match Group Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.