TD Asset Management Inc Reduces Position in Match Group Inc. $MTCH

TD Asset Management Inc reduced its stake in Match Group Inc. (NASDAQ:MTCH) by 39.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 368,131 shares of the technology company’s stock after selling 244,100 shares during the quarter. TD Asset Management Inc owned about 0.15% of Match Group worth $13,002,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in Match Group by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after purchasing an additional 326 shares in the last quarter. Bessemer Group Inc. grew its stake in Match Group by 2.8% in the 3rd quarter. Bessemer Group Inc. now owns 12,281 shares of the technology company’s stock worth $432,000 after acquiring an additional 333 shares during the period. Bollard Group LLC raised its holdings in Match Group by 0.7% in the 2nd quarter. Bollard Group LLC now owns 54,558 shares of the technology company’s stock valued at $1,685,000 after acquiring an additional 356 shares during the last quarter. Rossby Financial LCC lifted its stake in shares of Match Group by 126.5% during the 3rd quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock worth $31,000 after purchasing an additional 506 shares during the period. Finally, Resona Asset Management Co. Ltd. lifted its stake in shares of Match Group by 23.8% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,676 shares of the technology company’s stock worth $83,000 after purchasing an additional 514 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MTCH shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Match Group in a research note on Wednesday, December 10th. Wolfe Research set a $43.00 target price on shares of Match Group and gave the stock an “outperform” rating in a research report on Monday, January 5th. Wells Fargo & Company lowered their target price on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Match Group has a consensus rating of “Hold” and a consensus target price of $35.86.

Match Group Stock Performance

NASDAQ MTCH opened at $31.60 on Monday. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.61 and a beta of 1.32. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The company’s 50 day moving average price is $31.60 and its 200 day moving average price is $33.52.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.17). The business had revenue of $878.01 million during the quarter, compared to analyst estimates of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.Match Group’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. Sell-side analysts forecast that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be paid a dividend of $0.20 per share. This is a boost from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, April 7th. Match Group’s payout ratio is presently 33.61%.

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.