Match Group Target of Unusually High Options Trading (NASDAQ:MTCH)

Match Group, Inc. (NASDAQ:MTCH) was the target of unusually large options trading on Thursday. Investors purchased 30,516 call options on the stock. This represents an increase of approximately 233% compared to the typical daily volume of 9,172 call options.

Analysts Set New Price Targets

Several research analysts have issued reports on MTCH shares. Hsbc Global Res upgraded Match Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. The Goldman Sachs Group increased their price target on Match Group from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wolfe Research started coverage on Match Group in a report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 price target on the stock. Barclays cut their price target on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday. Finally, TD Cowen increased their price objective on Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.90.

Match Group Trading Down 1.8 %

Shares of MTCH opened at $30.56 on Friday. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.79 and a beta of 1.51. The stock has a 50 day moving average of $36.70 and a 200 day moving average of $33.96. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $895.48 million during the quarter, compared to the consensus estimate of $900.33 million. Match Group had a negative return on equity of 727.22% and a net margin of 17.86%. As a group, equities research analysts predict that Match Group will post 1.96 earnings per share for the current year.

Institutional Trading of Match Group

A number of institutional investors and hedge funds have recently modified their holdings of MTCH. Sumitomo Life Insurance Co. increased its position in Match Group by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after buying an additional 297 shares during the last quarter. Fulton Bank N.A. boosted its holdings in shares of Match Group by 3.1% in the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after acquiring an additional 299 shares during the period. Empirical Finance LLC boosted its holdings in shares of Match Group by 4.9% in the first quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock worth $254,000 after acquiring an additional 326 shares during the period. Prestige Wealth Management Group LLC boosted its holdings in shares of Match Group by 8.9% in the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after acquiring an additional 357 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after acquiring an additional 455 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.