Canada Pension Plan Investment Board Lowers Stock Holdings in Match Group Inc. $MTCH

Key Points

• Canada Pension Plan Investment Board has reduced its holdings in Match Group Inc. by 24.1%, owning 413,868 shares valued at approximately $12.9 million after selling 131,115 shares in the first quarter.
• Several institutional investors have significantly increased their stakes in Match Group, with State of Wyoming boosting its holdings by 403.6% during the same period.
• Match Group announced a quarterly dividend of $0.19 per share, which will be paid on October 17th, representing a 2.0% yield based on the previous market valuation.

Canada Pension Plan Investment Board trimmed its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 24.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 413,868 shares of the technology company's stock after selling 131,115 shares during the period. Canada Pension Plan Investment Board owned 0.17% of Match Group worth $12,913,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Wyoming grew its holdings in Match Group by 403.6% in the first quarter. State of Wyoming now owns 17,662 shares of the technology company's stock valued at $551,000 after purchasing an additional 14,155 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Match Group during the 1st quarter valued at $999,000. Callodine Capital Management LP increased its holdings in shares of Match Group by 76.9% during the 1st quarter. Callodine Capital Management LP now owns 810,000 shares of the technology company's stock worth $25,272,000 after buying an additional 352,240 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Match Group by 652.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,415 shares of the technology company's stock worth $356,000 after buying an additional 9,898 shares during the period. Finally, Comerica Bank boosted its holdings in Match Group by 4.1% in the first quarter. Comerica Bank now owns 56,945 shares of the technology company's stock valued at $1,777,000 after acquiring an additional 2,230 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research reports. Susquehanna boosted their price target on Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Citigroup decreased their target price on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. raised their price target on shares of Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Barclays cut their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Five research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Match Group has a consensus rating of "Hold" and an average price target of $35.44.

Match Group Stock Up 0.8%

MTCH opened at $37.34 on Tuesday. The firm's 50 day moving average is $34.48 and its 200-day moving average is $31.86. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The firm has a market capitalization of $8.98 billion, a P/E ratio of 18.39, a P/E/G ratio of 0.74 and a beta of 1.36.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. Match Group's payout ratio is currently 37.44%.

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares of the company's stock, valued at $295,889.76. This represents a 60.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann Mcdaniel sold 5,423 shares of Match Group stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the sale, the director directly owned 21,926 shares in the company, valued at approximately $823,979.08. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.64% of the company's stock.

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.

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