Match Group, Inc. (MTCH) Sees Significant Increase in Short Interest
Match Group, Inc. (NASDAQ:MTCH) was the target of a significant increase in short interest in the month of December. As of December 29th, there was short interest totalling 22,382,837 shares, an increase 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 short-interest ratio is currently 19.6 days.
Several equities research analysts have recently commented on MTCH shares. UBS Group boosted their target price on shares of Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, September 20th. Jefferies Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Match Group in a research report on Saturday, September 30th. Zacks Investment Research upgraded shares of Match Group from a “strong sell” rating to a “hold” rating and set a $28.00 target price on the stock in a research note on Wednesday, October 4th. Citigroup upped their price target on shares of Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $28.00 target price (up from $25.00) on shares of Match Group in a research note on Wednesday, October 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Match Group presently has an average rating of “Buy” and a consensus target price of $32.77.
Shares of Match Group (MTCH) opened at $32.30 on Friday. Match Group has a 12-month low of $15.42 and a 12-month high of $33.08. 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 company has a market cap of $8,820.00 and a PE ratio of 21.53.
Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $329.19 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. research analysts predict that Match Group will post 0.62 earnings per share for the current year.
In other Match Group news, Director Ann Mcdaniel sold 11,119 shares of Match Group stock in a transaction on Monday, November 27th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. 18.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its holdings in Match Group by 48.3% during the third quarter. GSA Capital Partners LLP now owns 22,147 shares of the technology company’s stock valued at $514,000 after purchasing an additional 7,210 shares in the last quarter. RWC Asset Management LLP purchased a new position in Match Group during the third quarter valued at approximately $3,479,000. Janney Montgomery Scott LLC purchased a new position in shares of Match Group in the 3rd quarter valued at approximately $226,000. Granahan Investment Management Inc. MA acquired a new position in Match Group in the 3rd quarter worth approximately $8,016,000. Finally, Crestline Management LP acquired a new position in Match Group in the 3rd quarter worth approximately $2,429,000. Institutional investors own 20.97% of the company’s stock.
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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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