Callodine Capital Management LP purchased a new stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 457,760 shares of the technology company's stock, valued at approximately $14,973,000. Match Group comprises 3.1% of Callodine Capital Management LP's portfolio, making the stock its 11th largest holding. Callodine Capital Management LP owned 0.18% of Match Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its holdings in Match Group by 7.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 544,983 shares of the technology company's stock worth $17,826,000 after acquiring an additional 36,100 shares during the period. Global Endowment Management LP acquired a new stake in shares of Match Group during the fourth quarter worth $553,000. Jump Financial LLC acquired a new stake in shares of Match Group during the fourth quarter worth $592,000. Bridgewater Associates LP increased its holdings in Match Group by 58.4% in the fourth quarter. Bridgewater Associates LP now owns 636,998 shares of the technology company's stock valued at $20,836,000 after purchasing an additional 234,850 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its stake in Match Group by 1.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock valued at $757,000 after buying an additional 415 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Match Group Price Performance
Match Group stock traded down $0.33 during midday trading on Wednesday, hitting $29.38. The company's stock had a trading volume of 1,184,785 shares, compared to its average volume of 4,928,109. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a 50-day moving average price of $30.89 and a two-hundred day moving average price of $32.80.
Match Group (NASDAQ:MTCH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. Sell-side analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.
Match Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.59%. Match Group's dividend payout ratio is currently 37.62%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on MTCH shares. Evercore ISI downgraded shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target on the stock. in a research report on Thursday, February 6th. StockNews.com raised shares of Match Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. HSBC cut shares of Match Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Hsbc Global Res lowered shares of Match Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Bank of America dropped their price target on Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Match Group has an average rating of "Hold" and a consensus target price of $37.25.
Read Our Latest Research Report on Match Group
Insider Activity
In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.
About Match Group
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Free Report)
Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.
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