Match Group, Inc. (MTCH) Sees Significant Increase in Short Interest

Match Group, Inc. (NASDAQ:MTCH) was the recipient of a significant growth in short interest in the month of December. As of December 29th, there was short interest totalling 22,382,837 shares, a growth of 5.4% from the December 15th total of 21,228,850 shares. Currently, 45.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,144,485 shares, the days-to-cover ratio is presently 19.6 days.

In other news, Director Ann Mcdaniel sold 11,119 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $30.62, for a total value of $340,463.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 18.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Match Group by 34.8% during the second quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock worth $108,945,000 after acquiring an additional 1,617,950 shares during the last quarter. Light Street Capital Management LLC bought a new position in shares of Match Group during the second quarter worth approximately $39,974,000. Voya Investment Management LLC increased its holdings in shares of Match Group by 16.4% during the second quarter. Voya Investment Management LLC now owns 1,674,074 shares of the technology company’s stock worth $29,095,000 after purchasing an additional 235,355 shares during the period. Wells Fargo & Company MN increased its stake in Match Group by 493.8% in the third quarter. Wells Fargo & Company MN now owns 1,003,722 shares of the technology company’s stock valued at $23,276,000 after acquiring an additional 834,681 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Match Group by 33.7% in the third quarter. Artisan Partners Limited Partnership now owns 937,605 shares of the technology company’s stock valued at $21,743,000 after acquiring an additional 236,331 shares during the last quarter. Hedge funds and other institutional investors own 20.97% of the company’s stock.

Match Group (MTCH) opened at $32.30 on Friday. 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 capitalization of $8,820.00 and a price-to-earnings ratio of 21.53. Match Group has a 12 month low of $15.42 and a 12 month high of $33.08.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data 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 net margin of 34.06% and a return on equity of 31.18%. The firm had revenue of $343.40 million during the quarter, compared to the consensus estimate of $329.19 million. During the same quarter in the prior year, the company earned $0.23 EPS. Match Group’s quarterly revenue was up 19.4% on a year-over-year basis. sell-side analysts forecast that Match Group will post 0.62 earnings per share for the current year.

MTCH has been the topic of several recent analyst reports. Guggenheim raised Match Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Bank of America lifted their price objective on Match Group from $21.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 10th. Deutsche Bank reissued a “buy” rating and set a $33.00 price objective on shares of Match Group in a research report on Wednesday, November 15th. Wells Fargo & Co reissued a “buy” rating and set a $29.00 price objective (up previously from $21.00) on shares of Match Group in a research report on Thursday, October 19th. Finally, Cowen reaffirmed an “outperform” rating and issued a $28.00 price target (up previously from $22.00) on shares of Match Group in a research report on Friday, October 13th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.77.

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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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