Match Group Inc (MTCH) Short Interest Up 12.6% in September
Match Group Inc (NASDAQ:MTCH) was the target of a large growth in short interest in the month of September. As of September 29th, there was short interest totalling 19,468,512 shares, a growth 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 company’s shares are sold short.
Match Group (MTCH) opened at 26.05 on Thursday. The firm has a 50 day moving average price of $23.01 and a 200-day moving average price of $19.48. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 37.06 and a beta of 0.56. Match Group has a 12 month low of $15.08 and a 12 month high of $26.24.
Match Group (NASDAQ:MTCH) last announced its earnings results 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). Match Group had a net margin of 16.65% and a return on equity of 34.42%. The business had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. During the same quarter in the previous year, the company earned $0.17 EPS. Match Group’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that Match Group will post $0.79 EPS for the current year.
Several equities analysts recently commented on the company. Bank of America Corporation boosted their price target on Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Jaffray Companies reissued an “overweight” rating and set a $28.00 price target (up from $25.00) on shares of Match Group in a research report on Wednesday, October 4th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $25.00 price target on shares of Match Group in a research report on Wednesday. Citigroup Inc. boosted their price target on Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, Zacks Investment Research raised Match Group from a “strong sell” rating to a “hold” rating and set a $28.00 price target on the stock in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $23.76.
In related news, General Counsel Jared F. Sine sold 64,436 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the transaction, the general counsel now directly owns 64,436 shares of the company’s stock, valued at approximately $1,318,360.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Sam Yagan sold 54,625 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $19.31, for a total value of $1,054,808.75. Following the transaction, the insider now directly owns 98,854 shares in the company, valued at $1,908,870.74. The disclosure for this sale can be found here. Insiders have sold a total of 902,498 shares of company stock valued at $19,287,878 in the last quarter. Company insiders own 18.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC lifted its position in shares of Match Group by 499.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after acquiring an additional 5,333 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of Match Group by 19.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock worth $114,000 after acquiring an additional 1,156 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 acquiring an additional 519 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Match Group in the 2nd quarter worth approximately $176,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Match Group in the 1st quarter worth approximately $181,000. Institutional investors own 18.97% of the company’s stock.
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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