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Aug 17, 2017

S3 Analytics: Short Sellers Smitten with Match Group

Bearish bets against online dating website Match Group (MTCH US) have hit the highest level since first listing its shares as a public company in 2015.  Despite short sellers having a mark-to-market paper loss of $27.5 million so far in 2017 (yielding a negative 10.5% return), short interest continues to grow on a daily basis.   

S3 Partners real-time analytics calculates short interest of 14.96 million shares, with $288.1 million currently at risk.  This is an increase of 48.6% and 67.3% year-to-date, when the exchange reported back in January that 10.1 million shares were sold short, with $172.2 million at risk. 

Focusing in on the past two months of trading, the stock’s price has risen by over 12%.   Over this same time frame, bears have shorted an additional 2.2 million shares, putting another $71.8 million to work.

With 38.2% of the floated shares now in short sellers’ hands, and the company recently announcing a 6 million share buyback program, bears looking to either initiate a new position or grow exposures further will eventually find borrow supply “hard to get.”

Want deeper insight into the above analysis? Contact: 
Director, S3 Partners
The information herein (some of which has been obtained from third party sources without verification) is believed by S3 Partners, LLC ('S3 Partners') to be reliable and accurate. Neither S3 Partners nor any of its affiliates makes any representation as to the accuracy or completeness of the information herein or accepts liability arising from its use. Prior to making any decisions based on the information herein, you should determine, without reliance upon S3 Partners, the economic risks and merits, as well as the legal, tax, accounting and investment consequences, of such decision.

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