Match Group Inc. $MTCH Shares Acquired by Callodine Capital Management LP

Key Points

• Callodine Capital Management increased its Match Group stake by 4.9% in Q1, bringing holdings to 1,690,388 shares worth about $51.9 million. Match Group now ranks as the firm’s 7th-largest holding.
• Match Group’s latest quarterly results beat expectations, with EPS of $0.68 versus the $0.61 estimate and revenue of $863.9 million topping forecasts. Revenue rose 3.9% year over year.
• Analyst sentiment remains mixed but generally cautious: the stock has a Hold consensus and an average target price of $41.29, even as some firms recently raised price targets and one upgraded the stock to Buy.

Callodine Capital Management LP lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,690,388 shares of the technology company's stock after buying an additional 78,960 shares during the quarter. Match Group accounts for approximately 3.6% of Callodine Capital Management LP's holdings, making the stock its 7th largest holding. Callodine Capital Management LP owned about 0.72% of Match Group worth $51,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTCH. Woodline Partners LP purchased a new stake in shares of Match Group during the first quarter valued at approximately $662,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Match Group by 20.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock worth $162,000 after purchasing an additional 891 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Match Group by 45.9% in the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock valued at $20,070,000 after purchasing an additional 204,472 shares during the period. Amundi boosted its stake in shares of Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company's stock valued at $11,637,000 after purchasing an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in Match Group during the 2nd quarter valued at $298,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of Match Group 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 sale, the director directly owned 16,218 shares in the company, valued at $582,874.92. This trade represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTCH. Barclays lifted their price target on shares of Match Group from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Citigroup upped their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Morgan Stanley raised their target price on Match Group from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note 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. Finally, UBS Group boosted their price target on Match Group from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Match Group has an average rating of "Hold" and an average target price of $41.29.

Match Group Trading Up 1.4%

Shares of NASDAQ MTCH opened at $37.91 on Friday. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.03. The business has a 50 day simple moving average of $36.72 and a 200-day simple moving average of $33.92.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly 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. The business had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. During the same period in the previous year, the business posted $0.44 EPS. The company's quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts predict that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.1%. 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.

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