Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 29,998 Match Group Inc. $MTCH

Key Points

• Connor Clark & Lunn Investment Management acquired 29,998 Match Group shares worth approximately $1.14 million during the second quarter. Institutional investors collectively own 94.05% of the company.
• Analysts maintain a generally positive outlook, with Match Group receiving a consensus rating of “Moderate Buy” and an average price target of $42.46.
• Match Group exceeded quarterly earnings expectations, reporting $0.70 in EPS versus a $0.65 estimate, and declared a quarterly dividend of $0.20 per share, representing a 1.9% annualized yield.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Match Group Inc. (NASDAQ:MTCH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,998 shares of the technology company's stock, valued at approximately $1,141,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Advisory Services Network LLC purchased a new stake in Match Group during the third quarter valued at approximately $28,000. Whittier Trust Co. raised its position in Match Group by 91.3% in the first 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. Parkside Financial Bank & Trust boosted its stake in shares of Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock worth $33,000 after acquiring an additional 356 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock worth $36,000 after acquiring an additional 884 shares during the last quarter. Finally, Root Financial Partners LLC grew its position in shares of Match Group by 63.9% during the 4th quarter. Root Financial Partners LLC now owns 1,254 shares of the technology company's stock valued at $40,000 after acquiring an additional 489 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group upped their price objective on Match Group from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Morgan Stanley set a $40.00 price target on Match Group in a report on Wednesday, August 5th. Susquehanna restated a "positive" rating on shares of Match Group in a research report on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $43.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. Finally, Citigroup lifted their price objective on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Match Group has a consensus rating of "Moderate Buy" and an average target price of $42.46.

Insider Buying and Selling

In other Match Group news, Director Glenn Schiffman purchased 3,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Bailey sold 4,760 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total transaction of $201,157.60. Following the sale, the director directly owned 11,742 shares of the company's stock, valued at approximately $496,216.92. This trade represents a 28.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is owned by insiders.

Match Group Stock Performance

Shares of Match Group stock opened at $41.58 on Monday. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $42.49. 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. The company has a fifty day moving average of $38.61 and a 200 day moving average of $35.29.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly 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. The business had revenue of $853.11 million for the quarter, compared to analysts' expectations of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The business's quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. Analysts forecast that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

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

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