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

Match Group, Inc. (NASDAQ:MTCH) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 10,430,000 shares, a decrease of 14.9% from the October 15th total of 12,260,000 shares. Based on an average daily volume of 4,560,000 shares, the days-to-cover ratio is currently 2.3 days.

Match Group Stock Up 2.8 %

Shares of NASDAQ:MTCH opened at $29.70 on Monday. Match Group has a 52-week low of $27.85 and a 52-week high of $54.60. The company has a 50 day moving average of $37.76 and a two-hundred day moving average of $39.84. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 0.52 and a beta of 1.41.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, October 31st. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. The firm had revenue of $882.00 million for the quarter, compared to analysts’ expectations of $879.85 million. Match Group had a negative return on equity of 173.16% and a net margin of 15.42%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. On average, equities analysts anticipate that Match Group will post 1.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna reduced their price target on Match Group from $55.00 to $39.00 and set a “positive” rating on the stock in a research note on Thursday, November 2nd. StockNews.com raised Match Group from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Bank of America began coverage on Match Group in a research report on Thursday, October 19th. They set a “buy” rating and a $52.00 target price for the company. Barclays cut their target price on Match Group from $56.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. raised their price target on Match Group from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.50.

Insider Transactions at Match Group

In related news, Director Glenn Schiffman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was acquired at an average price of $29.11 per share, for a total transaction of $116,440.00. Following the completion of the acquisition, the director now owns 22,243 shares of the company’s stock, valued at approximately $647,493.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,500 shares of company stock valued at $58,315 over the last ninety days. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Match Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Match Group by 92,835.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 51,938,629 shares of the technology company’s stock valued at $2,173,632,000 after purchasing an additional 51,882,742 shares during the period. BlackRock Inc. grew its position in Match Group by 5.6% in the first quarter. BlackRock Inc. now owns 35,749,193 shares of the technology company’s stock valued at $1,372,412,000 after acquiring an additional 1,889,531 shares during the period. Vanguard Group Inc. grew its position in Match Group by 1.7% in the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock valued at $3,170,951,000 after acquiring an additional 500,418 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Match Group by 107,412.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,731,116 shares of the technology company’s stock worth $984,604,000 after purchasing an additional 23,709,043 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Match Group by 8.1% during the second quarter. State Street Corp now owns 13,215,374 shares of the technology company’s stock valued at $553,063,000 after acquiring an additional 992,393 shares during the period. 93.56% of the stock is currently owned by institutional investors and hedge funds.

About Match Group

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, The League, Azar, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and Hakuna, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.