The Manufacturers Life Insurance Company Has $1.80 Million Holdings in Match Group Inc. $MTCH

Key Points

• The Manufacturers Life Insurance Company cut its Match Group stake by 67.2% in the first quarter, selling 120,361 shares and retaining 58,768 shares valued at approximately $1.8 million. Institutional investors collectively own 94.05% of Match Group.
• Match Group reported quarterly earnings of $0.70 per share, exceeding estimates of $0.65, while revenue of $853.11 million fell slightly short of forecasts and declined 1.2% year over year. The company also announced a quarterly dividend of $0.20 per share, representing a 2.1% annualized yield.
• Analysts maintain a consensus “Hold” rating, with six Buy ratings and nine Hold ratings and an average price target of $41.54, compared with the stock’s reported price of $37.26.

The Manufacturers Life Insurance Company decreased its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 67.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,768 shares of the technology company's stock after selling 120,361 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Match Group were worth $1,805,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in shares of Match Group in the third quarter worth approximately $28,000. Activest Wealth Management boosted its position in shares of Match Group by 6,523.1% during the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company's stock valued at $28,000 after buying an additional 848 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock valued at $29,000 after buying an additional 431 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock worth $33,000 after buying an additional 356 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in Match Group during the fourth quarter worth $38,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Price Performance

Shares of Match Group stock opened at $37.26 on Monday. The firm has a market cap of $8.69 billion, a PE ratio of 13.17, a P/E/G ratio of 0.58 and a beta of 1.30. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.40. The stock has a fifty day moving average price of $37.34 and a 200-day moving average price of $34.42.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The company had revenue of $853.11 million for the quarter, compared to the consensus estimate of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. As a group, equities analysts anticipate that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, October 5th. Match Group's payout ratio is presently 28.27%.

Analyst Ratings Changes

Several brokerages have weighed in on MTCH. Citigroup raised their price objective on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 7th. Susquehanna reiterated a "positive" rating on shares of Match Group in a report on Wednesday. TD Cowen dropped their price target on shares of Match Group from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their price target on shares of Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $41.54.

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.

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