Cibc World Markets Corp Sells 899 Shares of Match Group, Inc. (NASDAQ:MTCH)

Cibc World Markets Corp lessened its holdings in Match Group, Inc. (NASDAQ:MTCH) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,076 shares of the technology company’s stock after selling 899 shares during the period. Cibc World Markets Corp’s holdings in Match Group were worth $6,643,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Match Group by 2.3% in the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after acquiring an additional 391,977 shares in the last quarter. Starboard Value LP purchased a new stake in Match Group in the third quarter valued at approximately $361,605,000. Pacer Advisors Inc. raised its stake in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after purchasing an additional 939,078 shares in the last quarter. FMR LLC lifted its position in Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after purchasing an additional 524,144 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Match Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after buying an additional 69,947 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Match Group news, President Gary Swidler sold 242,209 shares of the business’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 sale, the president now directly owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price target on shares of Match Group in a research note on Thursday, December 12th. New Street Research lowered Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. UBS Group decreased their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Finally, Barclays cut their target price on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Match Group currently has an average rating of “Hold” and an average price target of $37.68.

Match Group Stock Performance

Shares of NASDAQ:MTCH opened at $30.99 on Wednesday. The firm has a market capitalization of $7.76 billion, a P/E ratio of 15.34, a P/E/G ratio of 0.82 and a beta of 1.45. The stock has a 50 day moving average price of $32.95 and a 200-day moving average price of $34.05. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. On average, equities analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group declared that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

About Match Group

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.