Hsbc Holdings PLC Takes $2.40 Million Position in Match Group Inc. $MTCH

Hsbc Holdings PLC bought a new position in shares of Match Group Inc. (NASDAQ:MTCH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 63,344 shares of the technology company’s stock, valued at approximately $2,395,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MTCH. BlackRock Inc. purchased a new position in Match Group during the second quarter worth about $1,087,055,000. State Street Corp raised its position in shares of Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after buying an additional 2,461,025 shares during the period. Ameriprise Financial Inc. raised its position in shares of Match Group by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock valued at $385,590,000 after buying an additional 162,330 shares during the period. Starboard Value LP lifted its holdings in Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after acquiring an additional 325,000 shares during the last quarter. Finally, Invesco Ltd. grew its position in Match Group by 9.8% in the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock worth $316,422,000 after acquiring an additional 872,524 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Price Performance

Shares of Match Group stock opened at $41.58 on Monday. The business has a 50-day moving average of $38.61 and a 200 day moving average of $35.29. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $42.49. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Equities research analysts anticipate that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s dividend payout ratio is presently 28.27%.

Insiders Place Their Bets

In other Match Group news, CAO Philip D. Eigenmann sold 15,000 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $41.70, for a total transaction of $625,500.00. Following the sale, the chief accounting officer directly owned 19,389 shares in the company, valued at $808,521.30. This represents a 43.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Bailey sold 4,760 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total transaction of $201,157.60. Following the completion of the transaction, the director directly owned 11,742 shares of the company’s stock, valued at $496,216.92. This represents a 28.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MTCH. Citigroup increased their price target on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Susquehanna reaffirmed a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. TD Cowen reduced their price target on shares of Match Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $43.00 price objective on shares of Match Group in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Match Group has an average rating of “Moderate Buy” and a consensus target price of $42.46.

Match Group Company Profile

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.