Match Group, Inc. (NASDAQ:MTCH) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 20,309,037 shares, a growth of 13.6% from the October 31st total of 17,881,390 shares. Currently, 52.5% of the shares of the stock are short sold. Based on an average trading volume of 3,000,807 shares, the days-to-cover ratio is currently 6.8 days.
Several analysts have recently commented on MTCH shares. BidaskClub cut Match Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Cowen reiterated an “outperform” rating and issued a $28.00 price objective (up from $22.00) on shares of Match Group in a research note on Friday, October 13th. Barclays upped their target price on shares of Match Group from $26.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Bank of America increased their target price on Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, CIBC reiterated a “market perform” rating on shares of Match Group in a research note on Thursday, November 9th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $31.09.
Match Group (NASDAQ MTCH) opened at $29.38 on Friday. Match Group has a 52 week low of $15.42 and a 52 week high of $32.87. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $8,153.44, a PE ratio of 50.59, a price-to-earnings-growth ratio of 3.79 and a beta of 0.77.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Match Group had a return on equity of 31.18% and a net margin of 34.06%. The company had revenue of $343.40 million during the quarter, compared to the consensus estimate of $329.19 million. During the same period in the previous year, the company earned $0.23 EPS. Match Group’s quarterly revenue was up 19.4% on a year-over-year basis. equities research analysts anticipate that Match Group will post 0.63 EPS for the current year.
In other Match Group news, Director Ann Mcdaniel sold 11,119 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $30.62, for a total transaction of $340,463.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MTCH. Cubist Systematic Strategies LLC boosted its position in Match Group by 499.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after buying an additional 5,333 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Match Group by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after purchasing an additional 519 shares during the period. Turner Investments LLC purchased a new stake in shares of Match Group in the 3rd quarter worth about $162,000. BNP Paribas Arbitrage SA lifted its position in shares of Match Group by 162.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock worth $163,000 after purchasing an additional 4,359 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Match Group by 40.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 7,354 shares of the technology company’s stock worth $172,000 after purchasing an additional 2,129 shares during the period. 21.03% of the stock is owned by institutional investors and hedge funds.
About Match Group
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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