Lazard Asset Management LLC Purchases 116,150 Shares of Match Group Inc. $MTCH

Lazard Asset Management LLC lifted its position in shares of Match Group Inc. (NASDAQ:MTCH) by 199.5% during the 1st quarter, Holdings Channel reports. The firm owned 174,379 shares of the technology company’s stock after purchasing an additional 116,150 shares during the quarter. Lazard Asset Management LLC’s holdings in Match Group were worth $5,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in MTCH. State Street Corp boosted its position in Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Match Group by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares during the period. Starboard Value LP grew its stake in Match Group by 2.9% in the 4th quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after buying an additional 325,000 shares during the last quarter. Invesco Ltd. grew its stake in Match Group by 9.8% in the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock valued at $316,422,000 after buying an additional 872,524 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Match Group by 32.8% in the 4th quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company’s stock valued at $261,692,000 after acquiring an additional 2,011,970 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Performance

MTCH opened at $39.31 on Friday. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $41.03. The firm has a market cap of $9.17 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. The business’s fifty day moving average is $36.99 and its 200-day moving average is $34.12.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.Match Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, research analysts predict that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, July 7th. Match Group’s payout ratio is currently 30.53%.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the sale, the director owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MTCH. Truist Financial set a $37.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Piper Sandler set a $51.00 target price on Match Group in a research report on Wednesday, May 6th. Barclays increased their target price on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. UBS Group lifted their price target on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Citigroup boosted their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Match Group presently has an average rating of “Hold” and a consensus price target of $41.29.

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.