Callan Family Office LLC Purchases Shares of 31,593 Match Group Inc. $MTCH

Key Points

• Callan Family Office LLC initiated a Match Group position by purchasing 31,593 shares valued at approximately $1.2 million. Institutional investors collectively own 94.05% of the company.
• Analysts maintain a generally positive outlook, with Match Group carrying a consensus “Moderate Buy” rating and an average price target of $42.46.
• Match Group exceeded quarterly EPS expectations, reporting $0.70 versus the $0.65 consensus estimate, while revenue declined 1.2% year over year to $853.11 million. The company also announced a quarterly dividend of $0.20 per share, representing a 1.9% yield.

Callan Family Office LLC purchased a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,593 shares of the technology company's stock, valued at approximately $1,202,000.

A number of other hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc raised its position in shares of Match Group by 1.9% in the 2nd quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company's stock worth $588,000 after acquiring an additional 289 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company's stock valued at $317,000 after purchasing an additional 311 shares during the period. Bollard Group LLC boosted its position in shares of Match Group by 0.6% during the 1st quarter. Bollard Group LLC now owns 52,928 shares of the technology company's stock valued at $1,625,000 after purchasing an additional 322 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Match Group by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company's stock valued at $133,000 after purchasing an additional 326 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock worth $33,000 after purchasing an additional 356 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted 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. The Goldman Sachs Group restated a "buy" rating and issued a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. TD Cowen decreased their price target on shares of Match Group from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. UBS Group upped their price objective on shares of Match Group from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Finally, Truist Financial upped their price objective on shares of Match Group from $37.00 to $41.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Match Group currently has a consensus rating of "Moderate Buy" and an average target price of $42.46.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $41.73 on Tuesday. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $41.79. The firm's 50-day simple moving average is $38.13 and its 200 day simple moving average is $34.99. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.60 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company had revenue of $853.11 million for the quarter, compared to analysts' expectations of $857.77 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Match Group's quarterly revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts predict that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's payout ratio is currently 28.27%.

Insider Transactions at Match Group

In other news, Director Glenn Schiffman bought 3,000 shares of Match Group stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the purchase, the director directly owned 56,370 shares in the company, valued at $2,064,833.10. The trade was a 5.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Match Group Company 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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