Match Group Inc. $MTCH Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its holdings in Match Group Inc. (NASDAQ:MTCH) by 42.2% in the 1st quarter, HoldingsChannel reports. The firm owned 269,150 shares of the technology company’s stock after selling 196,115 shares during the quarter. Royal Bank of Canada’s holdings in Match Group were worth $8,264,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MTCH. Bessemer Group Inc. boosted its position in Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock valued at $317,000 after buying an additional 311 shares during the period. Bollard Group LLC increased its position in shares of Match Group by 0.6% during the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock worth $1,625,000 after acquiring an additional 322 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after acquiring an additional 326 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after acquiring an additional 356 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its stake in shares of Match Group by 9.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 5,034 shares of the technology company’s stock valued at $163,000 after acquiring an additional 421 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Down 1.4%

Shares of Match Group stock opened at $36.73 on Tuesday. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $41.40. The firm’s 50 day moving average is $37.33 and its two-hundred day moving average is $34.46. The firm has a market capitalization of $8.57 billion, a P/E ratio of 12.98, a P/E/G ratio of 0.58 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. As a group, research analysts expect that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be given 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 2.2%. Match Group’s payout ratio is 28.27%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTCH. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. TD Cowen decreased their price objective on Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their price objective on Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Truist Financial upped their target price on shares of Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company raised their target price on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.54.

About Match Group

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.