Ontario Teachers Pension Plan Board Reduces Holdings in Match Group Inc. $MTCH

Ontario Teachers Pension Plan Board reduced its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 69.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,057 shares of the technology company’s stock after selling 43,967 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Match Group were worth $673,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings 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 worth $133,000 after acquiring an additional 326 shares during the last quarter. Bessemer Group Inc. lifted its holdings 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 purchasing an additional 333 shares in the last quarter. Bollard Group LLC boosted its stake in shares of Match Group by 0.7% during the 2nd quarter. Bollard Group LLC now owns 54,558 shares of the technology company’s stock worth $1,685,000 after purchasing an additional 356 shares during the last quarter. Exencial Wealth Advisors LLC boosted its stake in shares of Match Group by 2.8% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 16,159 shares of the technology company’s stock worth $499,000 after purchasing an additional 439 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Match Group by 28.0% during the second quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock worth $63,000 after buying an additional 446 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Up 1.4%

Shares of NASDAQ MTCH opened at $30.69 on Friday. The stock has a market capitalization of $7.24 billion, a PE ratio of 12.89, a P/E/G ratio of 0.58 and a beta of 1.32. The firm has a fifty day moving average of $31.74 and a 200-day moving average of $33.74. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). The firm had revenue of $878.01 million during 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%. Match Group’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Equities research analysts expect that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, April 7th. This is a positive change from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.6%. Match Group’s payout ratio is 31.93%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MTCH. Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 price objective on shares of Match Group in a research note on Wednesday, December 10th. UBS Group set a $34.00 price target on Match Group in a report on Wednesday, February 4th. Wolfe Research set a $43.00 price target on Match Group and gave the stock an “outperform” rating in a research note on Monday, January 5th. TD Cowen lowered their price objective on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Finally, Truist Financial dropped their target price on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and a consensus target price of $35.86.

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.