Louisiana State Employees Retirement System Acquires Shares of 104,700 Match Group Inc. $MTCH

Louisiana State Employees Retirement System acquired a new position in shares of Match Group Inc. (NASDAQ:MTCHFree Report) during the 1st quarter, Holdings Channel reports. The firm acquired 104,700 shares of the technology company’s stock, valued at approximately $3,215,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Match Group in the third quarter valued at about $28,000. Activest Wealth Management raised its stake in Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after purchasing an additional 848 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Match Group in the 4th quarter valued at about $38,000. Finally, Wexford Capital LP acquired a new position in shares of Match Group during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In other news, Director Melissa Anne Brenner sold 5,141 shares of the 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 completion of the transaction, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley increased their price target on Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on Match Group from $30.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. 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 Wednesday, May 6th. Finally, Piper Sandler set a $51.00 target price on Match Group in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.07.

View Our Latest Analysis on MTCH

Match Group Stock Performance

Shares of MTCH stock opened at $37.17 on Friday. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $39.20. The stock’s fifty day moving average price is $35.81 and its two-hundred day moving average price is $33.11. The company has a market cap of $8.67 billion, a PE ratio of 14.19, a P/E/G ratio of 0.59 and a beta of 1.33.

Match Group (NASDAQ:MTCHGet Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, equities analysts predict that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.2%. Match Group’s payout ratio is 30.53%.

Match Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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