Investors Buy High Volume of Call Options on Match Group (NASDAQ:MTCH)

Match Group, Inc. (NASDAQ:MTCHGet Rating) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 12,309 call options on the stock. This represents an increase of approximately 44% compared to the average daily volume of 8,577 call options.

Match Group Stock Performance

NASDAQ:MTCH opened at $48.56 on Friday. The stock has a 50-day simple moving average of $62.98 and a 200 day simple moving average of $76.56. Match Group has a one year low of $48.46 and a one year high of $182.00. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 151.75, a price-to-earnings-growth ratio of 0.63 and a beta of 1.22.

Match Group (NASDAQ:MTCHGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. Match Group had a net margin of 3.48% and a negative return on equity of 164.13%. The firm had revenue of $794.51 million for the quarter, compared to analysts’ expectations of $802.13 million. On average, equities research analysts forecast that Match Group will post 2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MTCH. Evercore ISI cut their target price on shares of Match Group to $75.00 in a research report on Tuesday, September 6th. Stifel Nicolaus started coverage on shares of Match Group in a research note on Wednesday, September 14th. They set a “hold” rating and a $62.00 price target on the stock. Oppenheimer cut their target price on shares of Match Group from $100.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Susquehanna Bancshares lowered their price objective on Match Group from $100.00 to $85.00 and set a “positive” rating for the company in a research report on Thursday, August 4th. Finally, Morgan Stanley cut their price target on Match Group from $150.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.59.

Insiders Place Their Bets

In related news, CEO Bernard Jin Kim purchased 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were bought at an average cost of $63.58 per share, with a total value of $1,017,280.00. Following the acquisition, the chief executive officer now owns 16,000 shares of the company’s stock, valued at approximately $1,017,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Match Group by 16.8% during the first quarter. BlackRock Inc. now owns 27,564,956 shares of the technology company’s stock worth $2,997,413,000 after acquiring an additional 3,955,469 shares during the period. Flossbach Von Storch AG boosted its stake in shares of Match Group by 327.0% in the 1st quarter. Flossbach Von Storch AG now owns 3,345,283 shares of the technology company’s stock valued at $363,766,000 after purchasing an additional 2,561,793 shares during the last quarter. Norges Bank acquired a new position in shares of Match Group during the 4th quarter valued at $324,212,000. Sustainable Growth Advisers LP lifted its position in shares of Match Group by 62.5% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,571,215 shares of the technology company’s stock valued at $388,334,000 after acquiring an additional 1,373,331 shares during the period. Finally, Lone Pine Capital LLC raised its holdings in Match Group by 14.1% during the fourth quarter. Lone Pine Capital LLC now owns 8,872,280 shares of the technology company’s stock worth $1,173,359,000 after buying an additional 1,098,413 shares during the last quarter. Institutional investors and hedge funds own 94.43% of the company’s stock.

Match Group Company Profile

(Get Rating)

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

Further Reading

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