Short Interest in Match Group, Inc. (NASDAQ:MTCH) Rises By 25.7%

Match Group, Inc. (NASDAQ:MTCH - Get Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 13,340,000 shares, an increase of 25.7% from the April 30th total of 10,610,000 shares. Approximately 5.5% of the shares of the company are short sold. Based on an average trading volume of 5,360,000 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MTCH. Morgan Stanley cut their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Citigroup decreased their price objective on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Evercore ISI reissued a "cautious" rating and set a $32.00 target price on shares of Match Group in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company decreased their price target on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Match Group currently has a consensus rating of "Hold" and an average target price of $35.91.

Match Group Price Performance

Shares of MTCH stock traded up $0.60 during trading hours on Wednesday, hitting $31.04. The company had a trading volume of 3,097,516 shares, compared to its average volume of 4,884,321. Match Group has a fifty-two week low of $26.39 and a fifty-two week high of $38.84. The company's fifty day moving average is $29.45 and its 200 day moving average is $31.51. The stock has a market capitalization of $7.77 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.45%. Match Group's dividend payout ratio is currently 37.62%.

Insider Activity at Match Group

In other news, CEO Spencer M. Rascoff acquired 70,885 shares of the business's stock in a transaction on Friday, May 9th. The stock was bought at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the acquisition, the chief executive officer now owns 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This represents a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Match Group

Several institutional investors and hedge funds have recently modified their holdings of MTCH. Starboard Value LP grew its position in Match Group by 53.4% in the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock valued at $479,429,000 after acquiring an additional 5,100,824 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of Match Group by 716.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company's stock valued at $171,889,000 after buying an additional 4,611,598 shares during the period. Nuveen LLC acquired a new position in shares of Match Group during the first quarter worth about $142,281,000. Invesco Ltd. increased its stake in shares of Match Group by 64.2% during the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after buying an additional 3,738,509 shares during the period. Finally, Norges Bank acquired a new stake in Match Group in the fourth quarter valued at approximately $112,176,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.