Toronto Dominion Bank Grows Stock Holdings in Match Group, Inc. (NASDAQ:MTCH)

Toronto Dominion Bank grew its holdings in Match Group, Inc. (NASDAQ:MTCH) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,580 shares of the technology company’s stock after acquiring an additional 5,782 shares during the period. Toronto Dominion Bank owned about 0.05% of Match Group worth $4,369,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Janney Montgomery Scott LLC lifted its stake in shares of Match Group by 29.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 51,385 shares of the technology company’s stock valued at $1,681,000 after purchasing an additional 11,688 shares during the period. Blue Trust Inc. raised its position in Match Group by 96.4% during the fourth quarter. Blue Trust Inc. now owns 5,071 shares of the technology company’s stock worth $166,000 after acquiring an additional 2,489 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Match Group by 330.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 328,281 shares of the technology company’s stock worth $10,738,000 after acquiring an additional 252,078 shares during the period. Swedbank AB raised its position in Match Group by 5.0% during the fourth quarter. Swedbank AB now owns 652,008 shares of the technology company’s stock worth $21,327,000 after acquiring an additional 31,108 shares during the period. Finally, abrdn plc raised its position in Match Group by 80.8% during the fourth quarter. abrdn plc now owns 38,634 shares of the technology company’s stock worth $1,270,000 after acquiring an additional 17,261 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Price Performance

Shares of MTCH stock opened at $29.78 on Friday. The firm has a market cap of $7.46 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42. The company has a 50-day moving average of $29.51 and a two-hundred day moving average of $31.51. Match Group, Inc. has a 1-year low of $26.39 and a 1-year high of $38.84.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays reduced their price objective on shares of Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their target price on shares of Match Group from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Bank of America reduced their target price on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. UBS Group reduced their target price on shares of Match Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company reduced their target price on shares of Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.91.

Insiders Place Their Bets

In other Match Group news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. This trade represents a 99.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Spencer M. Rascoff bought 70,885 shares of the stock in a transaction on Friday, May 9th. The shares were bought at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the purchase, the chief executive officer now owns 137,478 shares of the company’s stock, valued at $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by insiders.

Match Group Company 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.