Royal Bank of Canada Sells 448,810 Shares of Match Group Inc. $MTCH

Royal Bank of Canada lessened its stake in Match Group Inc. (NASDAQ:MTCH) by 46.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,513 shares of the technology company’s stock after selling 448,810 shares during the quarter. Royal Bank of Canada owned 0.20% of Match Group worth $15,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of MTCH. Mercer Global Advisors Inc. ADV raised its position in shares of Match Group by 18.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,650 shares of the technology company’s stock worth $446,000 after purchasing an additional 2,146 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Match Group by 615.6% in the 4th quarter. Captrust Financial Advisors now owns 54,933 shares of the technology company’s stock worth $1,797,000 after purchasing an additional 47,257 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Match Group by 92.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,300 shares of the technology company’s stock worth $239,000 after purchasing an additional 3,500 shares during the last quarter. Deutsche Bank AG raised its position in shares of Match Group by 9.5% in the 4th quarter. Deutsche Bank AG now owns 1,971,988 shares of the technology company’s stock worth $64,504,000 after purchasing an additional 170,627 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its position in shares of Match Group by 4.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 156,703 shares of the technology company’s stock worth $5,126,000 after purchasing an additional 6,695 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity

In other news, Director Ann Mcdaniel sold 5,423 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total transaction of $203,796.34. Following the completion of the sale, the director owned 21,926 shares of the company’s stock, valued at $823,979.08. This represents a 19.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Philip D. Eigenmann sold 6,531 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total transaction of $245,043.12. Following the sale, the chief accounting officer directly owned 23,240 shares of the company’s stock, valued at $871,964.80. The trade was a 21.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,454 shares of company stock valued at $907,839 in the last quarter. 0.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on MTCH. Susquehanna lifted their price target on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Evercore ISI boosted their target price on Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Finally, UBS Group boosted their target price on Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Five investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.44.

Match Group Stock Down 1.4%

NASDAQ MTCH opened at $38.21 on Wednesday. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The firm has a market capitalization of $9.19 billion, a P/E ratio of 18.82, a PEG ratio of 0.77 and a beta of 1.36. The company has a 50-day moving average price of $35.28 and a 200-day moving average price of $32.03.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.0%. Match Group’s dividend payout ratio is presently 37.44%.

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.