Louisiana State Employees Retirement System Invests $3.21 Million in Match Group Inc. $MTCH

Louisiana State Employees Retirement System acquired a new stake in Match Group Inc. (NASDAQ:MTCH) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 104,700 shares of the technology company’s stock, valued at approximately $3,215,000.

Several other hedge funds have also recently bought and sold shares of MTCH. AQR Capital Management LLC increased its holdings in Match Group by 1,163.7% during the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after purchasing an additional 5,652,174 shares in the last quarter. Norges Bank acquired a new position in shares of Match Group during the fourth quarter worth about $112,641,000. Holocene Advisors LP grew its holdings in shares of Match Group by 2,474.5% during the third quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company’s stock worth $96,832,000 after buying an additional 2,635,085 shares in the last quarter. State Street Corp grew its holdings in shares of 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 buying an additional 2,461,025 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Match Group by 58.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,997,395 shares of the technology company’s stock valued at $96,786,000 after buying an additional 1,111,419 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the transaction, the director 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $43.00 price target on shares of Match Group in a research report on Wednesday, May 6th. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Citigroup upped their target price on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. UBS Group increased their price target on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Barclays raised 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 investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.07.

Match Group Trading Up 6.4%

Shares of NASDAQ MTCH opened at $37.17 on Friday. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $39.20. The stock has a 50 day moving average of $35.81 and a 200-day moving average of $33.11. The company has a market capitalization of $8.67 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.59 and a beta of 1.33.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $863.93 million for the quarter, compared to analysts’ expectations of $854.70 million. During the same quarter in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts predict that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, July 7th. Match Group’s dividend payout ratio (DPR) is currently 30.53%.

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.