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

Lazard Asset Management LLC raised its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 199.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,379 shares of the technology company's stock after purchasing an additional 116,150 shares during the period. Lazard Asset Management LLC owned 0.07% of Match Group worth $5,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MTCH. Advisory Services Network LLC bought a new stake in shares of Match Group during the third quarter worth approximately $28,000. Activest Wealth Management lifted its holdings in Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company's stock valued at $28,000 after buying an additional 848 shares during the period. Whittier Trust Co. boosted its stake in Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock valued at $29,000 after acquiring an additional 431 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in 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 during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in Match Group during the 4th quarter worth $38,000. Institutional investors own 94.05% of the company's stock.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the sale, the director owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company's stock.

Match Group Trading Down 0.2%

Shares of NASDAQ MTCH opened at $39.31 on Friday. The company has a fifty day moving average price of $36.99 and a 200 day moving average price of $34.12. The firm has a market cap of $9.17 billion, a PE ratio of 15.00, a PEG ratio of 0.63 and a beta of 1.30. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $41.03.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $863.93 million for 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%.The company's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Equities research analysts forecast that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were paid a $0.20 dividend. 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 presently 30.53%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MTCH shares. Truist Financial set a $37.00 target price on shares of Match Group in a research report on Wednesday, May 6th. The Goldman Sachs Group reissued a "buy" rating and issued a $43.00 target price on shares of Match Group in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their target price on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their target price on Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Finally, Barclays upped their price target on Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $41.29.

Match Group Profile

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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