Match Group Inc. (NASDAQ:MTCH) Sees Large Drop in Short Interest

Match Group Inc. (NASDAQ:MTCH) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 9,957,022 shares, a decline of 23.0% from the March 15th total of 12,938,178 shares. Approximately 4.3% of the company’s shares are sold short. Based on an average daily trading volume, of 10,026,317 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley set a $35.00 price objective on Match Group in a report on Wednesday, February 4th. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Wolfe Research set a $43.00 price objective on Match Group and gave the stock an “outperform” rating in a report on Monday, January 5th. Wells Fargo & Company began coverage on Match Group in a report on Tuesday, April 7th. They set an “equal weight” rating and a $30.00 price target on the stock. Finally, Truist Financial reduced their price target on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Match Group presently has an average rating of “Hold” and an average target price of $35.64.

Match Group Price Performance

NASDAQ:MTCH traded up $0.23 during mid-day trading on Thursday, reaching $34.75. 4,421,800 shares of the company’s stock traded hands, compared to its average volume of 6,986,427. Match Group has a 12-month low of $26.80 and a 12-month high of $39.20. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.56 and a beta of 1.30. The company has a 50 day moving average price of $31.33 and a 200-day moving average price of $32.14.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The business had revenue of $878.01 million for the quarter, compared to analysts’ expectations of $872.86 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts forecast that Match Group will post 2.44 EPS for the current year.

Match Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be issued a dividend of $0.20 per share. This is a positive change from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. Match Group’s dividend payout ratio (DPR) is currently 33.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bollard Group LLC grew its holdings in shares of Match Group by 0.6% during the 3rd quarter. Bollard Group LLC now owns 54,875 shares of the technology company’s stock worth $1,938,000 after acquiring an additional 317 shares during the period. True Wealth Design LLC grew its holdings in shares of Match Group by 12.8% during the 4th quarter. True Wealth Design LLC now owns 2,813 shares of the technology company’s stock worth $91,000 after acquiring an additional 320 shares during the period. Smartleaf Asset Management LLC grew its holdings 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 worth $133,000 after acquiring an additional 326 shares during the period. Bessemer Group Inc. grew its holdings in shares of Match Group by 2.8% during the 3rd quarter. Bessemer Group Inc. now owns 12,281 shares of the technology company’s stock worth $432,000 after acquiring an additional 333 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings 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 worth $33,000 after acquiring an additional 356 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.