CIBC Asset Management Inc Grows Stake in Match Group Inc (MTCH)

CIBC Asset Management Inc grew its position in Match Group Inc (NASDAQ:MTCH) by 332.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,599 shares of the technology company’s stock after acquiring an additional 31,987 shares during the quarter. CIBC Asset Management Inc’s holdings in Match Group were worth $2,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Match Group in the second quarter valued at approximately $111,000. Financial Architects Inc lifted its position in shares of Match Group by 410.3% in the second quarter. Financial Architects Inc now owns 3,649 shares of the technology company’s stock valued at $141,000 after acquiring an additional 2,934 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Match Group in the second quarter valued at approximately $150,000. Metropolitan Life Insurance Co. NY lifted its position in shares of Match Group by 48.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,067 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,336 shares in the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Match Group in the third quarter valued at approximately $189,000. Institutional investors and hedge funds own 21.68% of the company’s stock.

Shares of Match Group stock opened at $42.71 on Friday. Match Group Inc has a one year low of $27.59 and a one year high of $60.95. The company has a market cap of $14.25 billion, a P/E ratio of 82.13, a P/E/G ratio of 3.32 and a beta of 0.74. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.18.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. Match Group had a return on equity of 64.07% and a net margin of 21.24%. The firm had revenue of $444.00 million for the quarter, compared to the consensus estimate of $438.03 million. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue was up 29.4% compared to the same quarter last year. On average, research analysts predict that Match Group Inc will post 1.24 earnings per share for the current year.

The business also recently disclosed a special dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, December 4th.

Several equities analysts have recently weighed in on MTCH shares. UBS Group raised their target price on Match Group from $52.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. BidaskClub downgraded Match Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. Aegis raised their target price on Match Group from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, September 12th. Deutsche Bank raised their target price on Match Group from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 17th. Finally, ValuEngine upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $49.82.

In other Match Group news, CEO Amanda Ginsberg sold 106,850 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $49.37, for a total transaction of $5,275,184.50. Following the completion of the sale, the chief executive officer now owns 62,682 shares of the company’s stock, valued at $3,094,610.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gary Swidler sold 105,611 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $49.57, for a total value of $5,235,137.27. Following the sale, the chief financial officer now directly owns 266,010 shares of the company’s stock, valued at approximately $13,186,115.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,000 shares of company stock worth $12,382,872. 7.00% of the stock is currently owned by company insiders.

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Match Group Company Profile

Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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