CIBC Asset Management Inc Has $1.05 Million Position in Match Group, Inc. (NASDAQ:MTCH)

CIBC Asset Management Inc trimmed its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,389 shares of the technology company’s stock after selling 4,348 shares during the quarter. CIBC Asset Management Inc’s holdings in Match Group were worth $1,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Finance LLC raised its position in Match Group by 4.9% during the 1st quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock worth $254,000 after purchasing an additional 326 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Match Group by 6.5% in the first quarter. Gamco Investors INC. ET AL now owns 7,807 shares of the technology company’s stock valued at $283,000 after buying an additional 478 shares during the period. Natixis Investment Managers International raised its position in shares of Match Group by 14.4% during the first quarter. Natixis Investment Managers International now owns 4,241 shares of the technology company’s stock worth $154,000 after acquiring an additional 533 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Match Group by 47.7% in the fourth quarter. Assetmark Inc. now owns 1,739 shares of the technology company’s stock worth $63,000 after acquiring an additional 562 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in Match Group by 7.3% in the second quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company’s stock valued at $269,000 after acquiring an additional 598 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MTCH has been the subject of several analyst reports. Wolfe Research assumed coverage on shares of Match Group in a report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price target for the company. TD Cowen boosted their target price on shares of Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Evercore ISI raised shares of Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Susquehanna lowered their price objective on Match Group from $46.00 to $45.00 and set a “positive” rating for the company in a research report on Monday, May 13th. Finally, Citigroup upped their target price on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.07.

Match Group Stock Down 1.9 %

Shares of Match Group stock opened at $35.82 on Friday. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $45.81. The business has a 50 day moving average price of $34.48 and a 200-day moving average price of $33.30. The company has a market cap of $9.24 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.75 and a beta of 1.50.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $864.07 million during the quarter, compared to analyst estimates of $856.51 million. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. Match Group’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. As a group, research analysts anticipate that Match Group, Inc. will post 1.98 EPS for the current year.

Match Group Profile

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.