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

Match Group, Inc. (NASDAQ:MTCH) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 38,067 call options on the stock. This is an increase of 313% compared to the typical volume of 9,211 call options.

Analyst Ratings Changes

Several brokerages have issued reports on MTCH. Evercore ISI raised shares of Match Group to a “strong-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 company a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley reduced their price target on Match Group from $34.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. 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 report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.34.

Match Group Price Performance

NASDAQ:MTCH traded up $0.14 during trading hours on Tuesday, reaching $37.67. 1,244,794 shares of the company traded hands, compared to its average volume of 5,361,131. The stock has a market cap of $9.71 billion, a P/E ratio of 16.30, a P/E/G ratio of 0.77 and a beta of 1.51. The firm’s 50-day moving average is $36.26 and its 200-day moving average is $33.50. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42.

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

Hedge Funds Weigh In On Match Group

Several large investors have recently added to or reduced their stakes in the business. Fulton Bank N.A. increased its position in Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after purchasing an additional 299 shares during the last quarter. Empirical Finance LLC increased its position 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 in the last quarter. Prestige Wealth Management Group LLC raised its stake in shares of Match Group by 8.9% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock valued at $133,000 after acquiring an additional 357 shares during the period. Quarry LP raised its position in 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 period. Finally, Gamco Investors INC. ET AL lifted its position in Match Group by 6.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 7,807 shares of the technology company’s stock worth $283,000 after acquiring an additional 478 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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.