Callodine Capital Management LP Has $51.91 Million Position in Match Group Inc. $MTCH

Callodine Capital Management LP raised its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,690,388 shares of the technology company’s stock after acquiring an additional 78,960 shares during the period. Match Group makes up 3.6% of Callodine Capital Management LP’s holdings, making the stock its 7th largest position. Callodine Capital Management LP’s holdings in Match Group were worth $51,912,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MTCH. Activest Wealth Management raised its stake in shares of Match Group by 6,523.1% during the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares in the last quarter. Advisory Services Network LLC bought a new position in Match Group during the 3rd quarter valued at $28,000. Whittier Trust Co. grew its holdings in Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after acquiring an additional 431 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Match Group during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Match Group Stock Performance

MTCH stock opened at $37.91 on Friday. The firm has a 50 day simple moving average of $36.72 and a 200 day simple moving average of $33.92. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $41.03. The stock has a market cap of $8.84 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The firm had revenue of $863.93 million for the quarter, compared to analyst estimates of $854.70 million. During the same quarter in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts predict that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, July 7th. Match Group’s dividend payout ratio (DPR) is currently 30.53%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTCH. Morgan Stanley lifted their price target on shares of Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Barclays boosted their price objective on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Truist Financial set a $37.00 price target on shares of Match Group in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Finally, Piper Sandler set a $51.00 target price on shares of Match Group in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Match Group has an average rating of “Hold” and a consensus target price of $41.29.

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.