The Manufacturers Life Insurance Company Decreases Stock Position in Match Group Inc. $MTCH

The Manufacturers Life Insurance Company cut its position in Match Group Inc. (NASDAQ:MTCH) by 67.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 58,768 shares of the technology company’s stock after selling 120,361 shares during the period. The Manufacturers Life Insurance Company’s holdings in Match Group were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Match Group by 338.3% during the first quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock valued at $35,124,000 after purchasing an additional 882,821 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Match Group by 22.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 625,638 shares of the technology company’s stock worth $20,202,000 after purchasing an additional 115,852 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of Match Group by 97.2% in the first quarter. Deprince Race & Zollo Inc. now owns 1,549,147 shares of the technology company’s stock worth $47,574,000 after purchasing an additional 763,764 shares in the last quarter. Swedbank AB increased its stake in shares of Match Group by 22.3% in the fourth quarter. Swedbank AB now owns 816,800 shares of the technology company’s stock worth $26,374,000 after purchasing an additional 148,700 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Match Group by 537.9% in the first quarter. Hillsdale Investment Management Inc. now owns 152,450 shares of the technology company’s stock valued at $4,682,000 after purchasing an additional 128,550 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on MTCH shares. Royal Bank Of Canada upped their price target on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday. Susquehanna restated a “positive” rating on shares of Match Group in a research report on Wednesday. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 price target on shares of Match Group in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.54.

Match Group Stock Performance

Shares of Match Group stock opened at $37.26 on Monday. The company’s 50-day moving average price is $37.34 and its 200-day moving average price is $34.42. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.40. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.58 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. Match Group’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. On average, sell-side analysts predict that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

Match Group 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.