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

Cibc World Markets Corp decreased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,076 shares of the technology company’s stock after selling 899 shares during the quarter. Cibc World Markets Corp owned about 0.08% of Match Group worth $6,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Starboard Value LP bought a new stake in Match Group during the 3rd quarter valued at $361,605,000. Paloma Partners Management Co grew its holdings in shares of Match Group by 510.3% during the third quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock valued at $2,463,000 after buying an additional 54,422 shares during the last quarter. Aviance Capital Partners LLC bought a new stake in shares of Match Group during the third quarter worth about $2,170,000. Redwood Investment Management LLC bought a new stake in shares of Match Group during the third quarter worth about $2,789,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Match Group by 94.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock worth $1,947,000 after acquiring an additional 28,884 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Down 1.2 %

NASDAQ MTCH opened at $30.99 on Wednesday. The company has a market cap of $7.76 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84. The firm’s 50-day simple moving average is $32.95 and its two-hundred day simple moving average is $34.05.

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

Match Group announced that its Board of Directors has initiated a share repurchase 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 purchase up to 19% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders 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 dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s payout ratio is currently 37.62%.

Insider Activity

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the president now owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group decreased their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays dropped their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus reduced their target price on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 price target (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Sixteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.68.

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.