Match Group Inc. (NASDAQ:MTCH) Short Interest Down 23.0% in March
by Doug Wharley · The Cerbat GemMatch Group Inc. (NASDAQ:MTCH – Get Free Report) was the recipient of a significant decline in short interest in 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. Based on an average daily volume of 10,026,317 shares, the short-interest ratio is currently 1.0 days. Approximately 4.3% of the company’s stock are short sold.
Match Group Trading Up 2.2%
NASDAQ MTCH traded up $0.76 during trading on Friday, reaching $35.51. The company’s stock had a trading volume of 3,812,796 shares, compared to its average volume of 6,962,975. The stock has a market capitalization of $8.26 billion, a PE ratio of 14.92, a PEG ratio of 0.56 and a beta of 1.30. The business has a 50-day moving average price of $31.41 and a 200-day moving average price of $32.13. Match Group has a 1-year low of $26.80 and a 1-year high of $39.20.
Match Group (NASDAQ:MTCH – Get Free Report) last posted its 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). The business had revenue of $878.01 million during the quarter, compared to analyst estimates of $872.86 million. Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. Match Group’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. As a group, analysts expect that Match Group will post 2.44 earnings per share for the current year.
Match Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, April 7th. This is a positive change from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. Match Group’s dividend payout ratio is presently 33.61%.
Analysts Set New Price Targets
A number of brokerages recently commented on MTCH. UBS Group reaffirmed a “neutral” rating on shares of Match Group in a research report on Friday, March 13th. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Wells Fargo & Company assumed coverage on shares of Match Group in a research report on Tuesday, April 7th. They set an “equal weight” rating and a $30.00 price objective on the stock. TD Cowen reduced their target price on shares of Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Finally, Wolfe Research set a $43.00 target price on shares of Match Group and gave the company an “outperform” rating in a research note on Monday, January 5th. Five research 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 has a consensus rating of “Hold” and an average target price of $35.64.
Read Our Latest Stock Report on Match Group
Institutional Trading of Match Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp lifted its stake in shares of Match Group by 14.6% in the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after buying an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares during the last quarter. Starboard Value LP lifted its stake in shares of Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock worth $367,957,000 after buying an additional 325,000 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Match Group by 9.8% in the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock worth $316,422,000 after buying an additional 872,524 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Match Group by 32.8% in the fourth quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company’s stock worth $261,692,000 after buying an additional 2,011,970 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.
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.