Caisse de depot et placement du Quebec Acquires Shares of 45,400 Match Group Inc. $MTCH

Key Points

• Caisse de dépôt et placement du Québec acquired 45,400 Match Group shares in the second quarter, valued at approximately $1.73 million. Institutional investors collectively own 94.05% of the company.
• Analysts maintain a generally positive outlook, with Match Group receiving a consensus “Moderate Buy” rating and an average price target of $42.46. Recent targets range from $42 to $51.
• Match Group beat quarterly EPS expectations, reporting $0.70 versus the $0.65 consensus estimate, though revenue fell 1.2% year over year to $853.11 million. The company also declared a quarterly dividend of $0.20 per share, representing a 1.9% yield.

Caisse de depot et placement du Quebec purchased a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 45,400 shares of the technology company's stock, valued at approximately $1,727,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC purchased a new position in Match Group during the 3rd quarter worth $28,000. Activest Wealth Management grew its holdings in shares of Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company's stock worth $28,000 after acquiring an additional 848 shares during the period. Whittier Trust Co. grew its holdings in shares of Match Group by 91.3% in the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock worth $29,000 after acquiring an additional 431 shares during the period. Elevation Wealth Partners LLC increased its stake in Match Group by 1,319.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock valued at $36,000 after purchasing an additional 884 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $33,000 after purchasing an additional 356 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Match Group news, CAO Philip D. Eigenmann sold 15,000 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $41.70, for a total value of $625,500.00. Following the transaction, the chief accounting officer directly owned 19,389 shares in the company, valued at approximately $808,521.30. This represents a 43.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenn Schiffman purchased 3,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were purchased at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the purchase, the director directly owned 56,370 shares in the company, valued at $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MTCH. Royal Bank Of Canada boosted their target price on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Barclays raised their price target on Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. began coverage on Match Group in a research note on Monday, August 24th. They set a "neutral" rating and a $43.00 price target for the company. Zacks Research upgraded shares of Match Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Finally, Piper Sandler set a $51.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.46.

Match Group Price Performance

Shares of Match Group stock opened at $41.58 on Friday. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $42.49. The business has a 50 day moving average price of $38.61 and a 200 day moving average price of $35.27. The company has a market capitalization of $9.54 billion, a P/E ratio of 14.69, a P/E/G ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The firm had revenue of $853.11 million for the quarter, compared to analysts' expectations of $857.77 million. During the same quarter in the prior year, the firm earned $0.49 EPS. Match Group's quarterly revenue was down 1.2% on a year-over-year basis. As a group, research analysts expect that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group's dividend payout ratio (DPR) is currently 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.

Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group Inc. (NASDAQ:MTCH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source