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

Match Group, Inc. (NASDAQ:MTCH) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 16,860,000 shares, a decline of 14.5% from the August 31st total of 19,730,000 shares. Based on an average daily volume of 5,310,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 6.6% of the company’s shares are short sold.

Match Group Trading Up 1.7 %

NASDAQ:MTCH opened at $37.81 on Friday. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.77 and a beta of 1.50. The firm has a fifty day simple moving average of $35.87 and a two-hundred day simple moving average of $33.40.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The firm had revenue of $864.07 million during the quarter, compared to analysts’ expectations of $856.51 million. During the same quarter last year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that Match Group will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MTCH has been the subject of several analyst reports. Morgan Stanley lowered their target price on Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. The Goldman Sachs Group raised their price objective on Match Group from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Evercore ISI raised shares of Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on shares of Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. YHB Investment Advisors Inc. purchased a new position in shares of Match Group during the first quarter valued at approximately $28,000. Mather Group LLC. purchased a new position in Match Group during the 1st quarter worth $33,000. Fidelis Capital Partners LLC bought a new stake in shares of Match Group in the 1st quarter worth $33,000. Quarry LP raised its holdings in shares of Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after purchasing an additional 461 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Match Group in the first quarter valued at about $57,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.