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

Key Points

• Callodine Capital Management LP increased its position in Match Group (NASDAQ:MTCH) by 3.3%, buying 44,833 shares to hold 1,399,833 shares worth about $49.44 million, making MTCH 4.3% of the fund's portfolio and its sixth-largest holding.
• Match Group reported an EPS miss of $0.83 vs. $1.00 expected while revenue of $878.0 million narrowly beat estimates, and the company raised its quarterly dividend to $0.20 per share (annualized $0.80, ~2.6% yield).
• Analysts have a consensus "Hold" rating with a $35.86 target (five Buys, eleven Holds), and the stock trades near $30.79 with a P/E of 12.94 and a 12-month range of $26.39–$39.20.

Callodine Capital Management LP grew its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,399,833 shares of the technology company's stock after buying an additional 44,833 shares during the period. Match Group comprises 4.3% of Callodine Capital Management LP's portfolio, making the stock its 6th largest position. Callodine Capital Management LP owned 0.58% of Match Group worth $49,442,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MTCH. Fieldview Capital Management LLC bought a new stake in shares of Match Group during the 3rd quarter valued at about $1,803,000. CWM LLC lifted its holdings in Match Group by 3,228.4% in the third quarter. CWM LLC now owns 266,406 shares of the technology company's stock worth $9,409,000 after acquiring an additional 258,402 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Match Group by 611.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 116,535 shares of the technology company's stock valued at $3,857,000 after acquiring an additional 100,163 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Match Group by 71.2% during the second quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company's stock valued at $965,000 after purchasing an additional 12,987 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in shares of Match Group by 24.0% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 63,024 shares of the technology company's stock worth $1,947,000 after purchasing an additional 12,206 shares during the period. Institutional investors and hedge funds own 94.05% of the company's stock.

Analysts Set New Price Targets

MTCH has been the subject of a number of analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $37.00 price objective on shares of Match Group in a research report on Wednesday, December 10th. Morgan Stanley set a $35.00 price target on shares of Match Group in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Match Group from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Truist Financial dropped their price objective on shares of Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a report on Wednesday, February 4th. Finally, UBS Group reissued a "neutral" rating on shares of Match Group in a research note on Friday. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Match Group has a consensus rating of "Hold" and a consensus target price of $35.86.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $30.79 on Friday. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.49 and a beta of 1.30. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The stock's 50 day moving average price is $31.28 and its 200 day moving average price is $33.10.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.17). The firm had revenue of $878.01 million during the quarter, compared to the consensus estimate of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 EPS. On average, sell-side analysts expect that Match Group Inc. will post 2.44 EPS for the current year.

Match Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be paid a dividend of $0.20 per share. This is a boost from Match Group's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, April 7th. Match Group's dividend payout ratio (DPR) is currently 31.93%.

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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