Hsbc Holdings PLC Acquires 103,774 Shares of Match Group Inc. $MTCH

Hsbc Holdings PLC grew its holdings in Match Group Inc. (NASDAQ:MTCH) by 24.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 532,665 shares of the technology company’s stock after acquiring an additional 103,774 shares during the period. Hsbc Holdings PLC’s holdings in Match Group were worth $17,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MTCH. Woodline Partners LP purchased a new position in Match Group in the 1st quarter worth approximately $662,000. Northwestern Mutual Wealth Management Co. grew its holdings in Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock valued at $162,000 after buying an additional 891 shares in the last quarter. First Trust Advisors LP raised its position in shares of Match Group by 45.9% during the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after buying an additional 204,472 shares during the last quarter. Amundi lifted its holdings in shares of Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company’s stock worth $11,637,000 after buying an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in shares of Match Group in the second quarter worth $298,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MTCH shares. Royal Bank Of Canada raised their target price on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. UBS Group lifted their target price on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.07.

Match Group Price Performance

Shares of MTCH stock opened at $34.94 on Friday. The company has a market cap of $8.15 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.56 and a beta of 1.33. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $39.20. The stock’s 50 day simple moving average is $35.75 and its two-hundred day simple moving average is $33.08.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $863.93 million during the quarter, compared to analysts’ expectations of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts expect that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be given a $0.20 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. Match Group’s dividend payout ratio (DPR) is currently 30.53%.

Insider Buying and Selling

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the transaction, the director directly owned 16,218 shares of the company’s stock, valued at $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is owned by insiders.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.