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

Key Points

• Short interest fell 23.0% in March to 9,957,022 shares (about 4.3% of shares sold short), leaving a short-interest ratio of roughly 1.0 days based on average daily volume.
• The board raised the quarterly dividend to $0.20 (annualized $0.80), a ~2.4% yield, with an ex-dividend date of April 7 and payment on April 21.
• Match Group missed on EPS in the latest quarter ($0.83 vs. $1.00 expected) while revenue of $878.0M slightly beat estimates, and analysts maintain a consensus "Hold" rating with a $35.64 target.

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

Match Group Stock Up 1.2%

Shares of MTCH opened at $33.59 on Wednesday. The company has a 50-day simple moving average of $31.17 and a 200-day simple moving average of $32.10. The company has a market capitalization of $7.81 billion, a PE ratio of 14.11, a P/E/G ratio of 0.54 and a beta of 1.30. Match Group has a 52-week low of $26.80 and a 52-week high of $39.20.

Match Group (NASDAQ:MTCH - Get Free Report) 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). The company had revenue of $878.01 million during the quarter, compared to analysts' expectations of $872.86 million. Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. On average, research analysts anticipate that Match Group will post 2.44 EPS for the current year.

Match Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Match Group's previous quarterly dividend of $0.19. Match Group's payout ratio is 33.61%.

Analyst Ratings Changes

MTCH has been the subject of several recent analyst reports. Morgan Stanley set a $35.00 target price on shares of Match Group in a research note on Wednesday, February 4th. Truist Financial reduced their target price on shares of Match Group from $35.00 to $34.00 and set a "hold" rating for the company in a research note on Wednesday, February 4th. Wolfe Research set a $43.00 target price on shares of Match Group and gave the stock an "outperform" rating in a research note on Monday, January 5th. Wells Fargo & Company initiated coverage on shares of Match Group in a research note on Tuesday, April 7th. They issued an "equal weight" rating and a $30.00 target price for the company. Finally, UBS Group restated a "neutral" rating on shares of Match Group in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $35.64.

Hedge Funds Weigh In On Match Group

Large investors have recently made changes to their positions in the stock. Woodline Partners LP purchased a new position in Match Group during the 1st quarter valued at about $662,000. Northwestern Mutual Wealth Management Co. increased its holdings in Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock valued at $162,000 after acquiring an additional 891 shares in the last quarter. First Trust Advisors LP increased its holdings in Match Group by 45.9% during the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock valued at $20,070,000 after acquiring an additional 204,472 shares in the last quarter. Amundi increased its holdings in Match Group by 1,477.6% during the 2nd quarter. Amundi now owns 358,709 shares of the technology company's stock valued at $11,637,000 after acquiring an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in Match Group during the 2nd quarter valued at about $298,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

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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