Short Interest in Match Group, Inc. (MTCH) Grows By 12.6%

Match Group, Inc. (NASDAQ:MTCH) was the recipient of a significant increase in short interest during the month of September. As of September 29th, there was short interest totalling 19,468,512 shares, an increase of 12.6% from the September 15th total of 17,288,129 shares. Based on an average daily volume of 1,709,866 shares, the days-to-cover ratio is currently 11.4 days. Currently, 50.2% of the shares of the stock are short sold.

In related news, Vice Chairman Sam Yagan sold 54,625 shares of Match Group stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.31, for a total transaction of $1,054,808.75. Following the completion of the transaction, the insider now directly owns 98,854 shares of the company’s stock, valued at $1,908,870.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Jared F. Sine sold 64,436 shares of Match Group stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total value of $1,318,360.56. Following the transaction, the general counsel now directly owns 64,436 shares of the company’s stock, valued at $1,318,360.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 902,498 shares of company stock valued at $19,287,878. 18.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Teachers Advisors LLC boosted its stake in shares of Match Group by 6.0% during the 4th quarter. Teachers Advisors LLC now owns 27,445 shares of the technology company’s stock worth $469,000 after acquiring an additional 1,562 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Match Group by 7.1% in the first quarter. Swiss National Bank now owns 73,600 shares of the technology company’s stock valued at $1,202,000 after purchasing an additional 4,900 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Match Group in the first quarter valued at $181,000. Karp Capital Management Corp purchased a new stake in shares of Match Group in the first quarter valued at $698,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Match Group by 127.7% in the first quarter. Parametric Portfolio Associates LLC now owns 79,455 shares of the technology company’s stock valued at $1,298,000 after purchasing an additional 44,553 shares in the last quarter. 18.97% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on MTCH. Cowen and Company reaffirmed an “outperform” rating and set a $28.00 price objective (up from $22.00) on shares of Match Group in a report on Friday. Bank of America Corp lifted their price objective on Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Aegis lifted their price objective on Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. BidaskClub raised Match Group from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Citigroup Inc. lifted their price objective on Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Match Group currently has an average rating of “Buy” and an average target price of $25.80.

Match Group (NASDAQ:MTCH) opened at 25.62 on Tuesday. The firm has a market capitalization of $6.72 billion, a PE ratio of 36.44 and a beta of 0.56. Match Group has a 12-month low of $15.08 and a 12-month high of $26.24. The stock has a 50 day moving average price of $23.55 and a 200-day moving average price of $19.65.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. On average, equities research analysts forecast that Match Group will post $0.80 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Teachers Advisors LLC boosted its stake in shares of Match Group by 6.0% during the 4th quarter. Teachers Advisors LLC now owns 27,445 shares of the technology company’s stock worth $469,000 after acquiring an additional 1,562 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Match Group by 7.1% in the first quarter. Swiss National Bank now owns 73,600 shares of the technology company’s stock valued at $1,202,000 after purchasing an additional 4,900 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Match Group in the first quarter valued at $181,000. Karp Capital Management Corp purchased a new stake in shares of Match Group in the first quarter valued at $698,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Match Group by 127.7% in the first quarter. Parametric Portfolio Associates LLC now owns 79,455 shares of the technology company’s stock valued at $1,298,000 after purchasing an additional 44,553 shares in the last quarter. 18.97% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on MTCH. Cowen and Company reaffirmed an “outperform” rating and set a $28.00 price objective (up from $22.00) on shares of Match Group in a report on Friday. Bank of America Corp lifted their price objective on Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Aegis lifted their price objective on Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. BidaskClub raised Match Group from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Citigroup Inc. lifted their price objective on Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Match Group currently has an average rating of “Buy” and an average target price of $25.80.

Match Group (NASDAQ:MTCH) opened at 25.62 on Tuesday. The firm has a market capitalization of $6.72 billion, a PE ratio of 36.44 and a beta of 0.56. Match Group has a 12-month low of $15.08 and a 12-month high of $26.24. The stock has a 50 day moving average price of $23.55 and a 200-day moving average price of $19.65.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. On average, equities research analysts forecast that Match Group will post $0.80 EPS for the current year.

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Match Group Company Profile

Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.

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