By otakuyassine3@gmail.com 
Match Group, Inc. (NASDAQ:MTCH – Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 15,340,000 shares, a decrease of 21.9% from the November 30th total of 19,650,000 shares. Approximately 6.2% of the company’s stock are short sold. Based on an average trading volume of 4,490,000 shares, the days-to-cover ratio is presently 3.4 days.
Insider Activity
In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.77% of the company’s stock.
Hedge Funds Weigh In On Match Group
Several institutional investors have recently modified their holdings of MTCH. Venturi Wealth Management LLC boosted its stake in shares of Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Match Group in the third quarter worth approximately $31,000. Quarry LP grew its holdings in Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in shares of Match Group in the 3rd quarter valued at approximately $57,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Match Group in the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
Analyst Upgrades and Downgrades
MTCH has been the topic of a number of recent research reports. Susquehanna lowered their target price on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Barclays decreased their price target on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Truist Financial dropped their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Evercore ISI decreased their target price on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. Finally, Bank of America raised their price target on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Thirteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Match Group presently has an average rating of “Moderate Buy” and a consensus price target of $37.68.
Get Our Latest Analysis on Match Group
Match Group Trading Down 0.8 %
NASDAQ MTCH traded down $0.26 during trading hours on Friday, reaching $33.17. The company had a trading volume of 1,872,822 shares, compared to its average volume of 5,185,490. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42. The stock has a market capitalization of $8.33 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The stock has a 50-day moving average of $33.33 and a 200 day moving average of $34.28.
Match Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, January 6th. Match Group’s dividend payout ratio is currently 33.93%.
Match Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Match Group Company Profile
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.
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