Canada Pension Plan Investment Board Makes New $11.05 Million Investment in Match Group Inc. $MTCH

Key Points

• Canada Pension Plan Investment Board acquired 290,300 Match Group shares worth approximately $11.05 million, giving it a 0.12% stake. Institutional investors collectively own 94.05% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $42.46; targets cited include $40 from Morgan Stanley and $43 from Goldman Sachs.
• Match Group beat quarterly EPS expectations, reporting $0.70 versus the $0.65 consensus, though revenue fell 1.2% year over year to $853.11 million. The company also announced a quarterly dividend of $0.20 per share, or a 1.9% annualized yield.

Canada Pension Plan Investment Board purchased a new stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 290,300 shares of the technology company's stock, valued at approximately $11,046,000. Canada Pension Plan Investment Board owned 0.12% of Match Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Match Group in the 2nd quarter valued at about $1,087,055,000. State Street Corp grew its position in Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company's stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company's stock valued at $385,590,000 after purchasing an additional 162,330 shares during the period. Starboard Value LP increased its stake in shares of Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company's stock valued at $367,957,000 after purchasing an additional 325,000 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Match Group by 9.8% during the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company's stock valued at $316,422,000 after buying an additional 872,524 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Zacks Research upgraded shares of Match Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Morgan Stanley set a $40.00 target price on Match Group in a research report on Wednesday, August 5th. The Goldman Sachs Group restated a "buy" rating and issued a $43.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Match Group currently has a consensus rating of "Moderate Buy" and an average price target of $42.46.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 4,760 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total transaction of $201,157.60. Following the transaction, the director directly owned 11,742 shares of the company's stock, valued at approximately $496,216.92. The trade was a 28.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn Schiffman purchased 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the transaction, the director directly owned 56,370 shares of the company's stock, valued at $2,064,833.10. This trade represents a 5.62% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.71% of the stock is currently owned by insiders.

Match Group Price Performance

Match Group stock opened at $41.58 on Friday. The firm's 50 day simple moving average is $38.61 and its 200-day simple moving average is $35.27. The company has a market cap of $9.54 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $42.49.

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

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued a $0.20 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Match Group's dividend payout ratio is presently 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.

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