Match Group Inc. $MTCH Shares Bought by Deprince Race & Zollo Inc.

Key Points

• Deprince Race & Zollo Inc. nearly doubled its Match Group stake in Q1, buying 763,764 additional shares and bringing its holdings to 1.55 million shares worth about $47.6 million.
• Match Group reported better-than-expected first-quarter earnings, posting $0.68 EPS versus the $0.61 estimate, with revenue of $863.93 million also topping forecasts.
• The company declared a quarterly dividend of $0.20 per share, yielding about 2.1%, while analysts remain mixed overall with an average Hold rating and a $41.07 price target.

Deprince Race & Zollo Inc. lifted its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 97.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,549,147 shares of the technology company's stock after buying an additional 763,764 shares during the period. Deprince Race & Zollo Inc. owned about 0.67% of Match Group worth $47,574,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MTCH. State Street Corp grew its holdings in shares of Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company's stock worth $680,826,000 after acquiring an additional 2,461,025 shares during the period. Ameriprise Financial Inc. increased its position in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company's stock valued at $385,590,000 after buying an additional 162,330 shares in the last quarter. Starboard Value LP raised its stake in shares of Match Group by 2.9% during the 4th quarter. Starboard Value LP now owns 11,395,379 shares of the technology company's stock worth $367,957,000 after buying an additional 325,000 shares during the last quarter. Invesco Ltd. boosted its position in shares of Match Group by 9.8% in the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company's stock worth $316,422,000 after buying an additional 872,524 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake 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 last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the transaction, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company's stock.

Match Group Stock Performance

NASDAQ:MTCH opened at $38.25 on Thursday. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30. Match Group Inc. has a one year low of $28.81 and a one year high of $39.20. The stock has a 50-day simple moving average of $35.98 and a 200 day simple moving average of $33.20.

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

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, July 7th. Match Group's dividend payout ratio (DPR) is presently 30.53%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings raised Match Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, April 22nd. Barclays increased their price objective on Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Truist Financial set a $37.00 target price on shares of Match Group in a research note on Wednesday, May 6th. Finally, TD Cowen upped their target price on shares of Match Group from $37.00 to $44.00 and gave the company a "buy" rating in a report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $41.07.

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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