Stock Traders Purchase High Volume of Call Options on Match Group (NASDAQ:MTCH)

Match Group, Inc. (NASDAQ:MTCH) saw some unusual options trading on Thursday. Traders acquired 30,516 call options on the company. This represents an increase of 233% compared to the typical daily volume of 9,172 call options.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MTCH. Bank of America reaffirmed a “neutral” rating and set a $35.00 price objective (down from $50.00) on shares of Match Group in a research report on Thursday. The Goldman Sachs Group increased their price target on shares of Match Group from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Truist Financial raised their price objective on shares of Match Group from $33.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Wolfe Research initiated coverage on shares of Match Group in a report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 target price for the company. Finally, TD Cowen lifted their price target on shares of Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.19.

Institutional Investors Weigh In On Match Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its stake in shares of Match Group by 2.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 79,782 shares of the technology company’s stock worth $2,894,000 after acquiring an additional 2,083 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Match Group in the first quarter valued at $33,000. Daiwa Securities Group Inc. boosted its stake in shares of Match Group by 7.4% during the first quarter. Daiwa Securities Group Inc. now owns 29,875 shares of the technology company’s stock valued at $1,084,000 after acquiring an additional 2,063 shares during the last quarter. GSA Capital Partners LLP increased its position in Match Group by 151.7% during the 1st quarter. GSA Capital Partners LLP now owns 22,854 shares of the technology company’s stock worth $829,000 after purchasing an additional 13,774 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in Match Group by 3.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,113 shares of the technology company’s stock worth $2,036,000 after purchasing an additional 1,869 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Trading Down 17.9 %

Shares of MTCH stock opened at $31.11 on Friday. The business’s 50 day moving average is $36.95 and its two-hundred day moving average is $33.99. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The company has a market capitalization of $8.02 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.51.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. Match Group had a net margin of 18.72% and a negative return on equity of 467.66%. The firm had revenue of $895.48 million during the quarter, compared to the consensus estimate of $900.33 million. As a group, equities analysts predict that Match Group will post 1.96 earnings per share for the current fiscal year.

Match Group Company Profile

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.