TD Asset Management Inc Decreases Stock Position in Match Group Inc. $MTCH

TD Asset Management Inc lowered its position in shares of Match Group Inc. (NASDAQ:MTCH) by 39.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 368,131 shares of the technology company’s stock after selling 244,100 shares during the period. TD Asset Management Inc’s holdings in Match Group were worth $13,002,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of Match Group by 8.2% in the second 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 during the period. Bessemer Group Inc. boosted its position in Match Group by 2.8% in the 3rd quarter. Bessemer Group Inc. now owns 12,281 shares of the technology company’s stock valued at $432,000 after buying an additional 333 shares during the last quarter. Bollard Group LLC grew its stake in shares of Match Group by 0.7% during the second 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 in the last quarter. Rossby Financial LCC increased its position in shares of Match Group by 126.5% during the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock worth $31,000 after acquiring an additional 506 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its stake in shares of Match Group by 23.8% in the second quarter. Resona Asset Management Co. Ltd. now owns 2,676 shares of the technology company’s stock worth $83,000 after acquiring an additional 514 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTCH. Raymond James Financial restated a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. TD Cowen dropped their price target on shares of Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. UBS Group set a $34.00 price objective on shares of Match Group in a research note on Wednesday, February 4th. JPMorgan Chase & Co. decreased their price objective on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Finally, Truist Financial dropped their target price on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.86.

Match Group Stock Down 1.9%

Shares of NASDAQ:MTCH opened at $31.60 on Monday. The firm has a 50-day simple moving average of $31.60 and a 200 day simple moving average of $33.52. The company has a market cap of $7.46 billion, a PE ratio of 13.28, a P/E/G ratio of 0.61 and a beta of 1.32. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20.

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 analysts’ consensus estimates of $1.00 by ($0.17). The company had revenue of $878.01 million for the quarter, compared to analyst estimates of $872.86 million. Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, research analysts forecast that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be given a $0.20 dividend. The ex-dividend date is Tuesday, April 7th. This represents a $0.80 annualized dividend and a yield of 2.5%. This is an increase from Match Group’s previous quarterly dividend of $0.19. Match Group’s payout ratio is 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.