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

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

A number of other large investors also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of Match Group by 58.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,997,395 shares of the technology company’s stock valued at $96,786,000 after purchasing an additional 1,111,419 shares in the last quarter. Natixis Advisors LLC bought a new stake in shares of Match Group in the 4th quarter worth approximately $336,000. Root Financial Partners LLC grew its stake in shares of Match Group by 63.9% in the 4th quarter. Root Financial Partners LLC now owns 1,254 shares of the technology company’s stock worth $40,000 after buying an additional 489 shares during the last quarter. Minneapolis Portfolio Management Group LLC increased its position in Match Group by 1.9% during the 4th quarter. Minneapolis Portfolio Management Group LLC now owns 731,767 shares of the technology company’s stock valued at $23,629,000 after buying an additional 13,988 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in Match Group by 6.7% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,699,960 shares of the technology company’s stock valued at $54,892,000 after buying an additional 106,995 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MTCH. Citigroup boosted their target price on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley raised their price target on Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada upped their price target 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. Weiss Ratings raised shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen raised their price objective on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.07.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company’s stock, valued at $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.64% of the stock is currently owned by company insiders.

Match Group Stock Down 0.7%

Shares of Match Group stock opened at $34.19 on Tuesday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $39.20. The company’s 50 day moving average is $34.84 and its 200 day moving average is $32.88. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.55 and a beta of 1.33.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, July 7th. Match Group’s dividend payout ratio (DPR) is 30.53%.

Match Group Company Profile

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.