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

Hsbc Holdings PLC grew its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 24.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 532,665 shares of the technology company’s stock after purchasing an additional 103,774 shares during the quarter. Hsbc Holdings PLC’s holdings in Match Group were worth $17,147,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MTCH. Bollard Group LLC increased its stake in Match Group by 0.6% in the 3rd quarter. Bollard Group LLC now owns 54,875 shares of the technology company’s stock worth $1,938,000 after buying an additional 317 shares during the period. True Wealth Design LLC lifted its holdings in Match Group by 12.8% during the 4th quarter. True Wealth Design LLC now owns 2,813 shares of the technology company’s stock valued at $91,000 after buying an additional 320 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Match Group by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after buying an additional 326 shares during the period. Parkside Financial Bank & Trust grew its stake in Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after acquiring an additional 356 shares in the last quarter. Finally, Mather Group LLC. grew its stake in Match Group by 6.0% in the 4th quarter. Mather Group LLC. now owns 6,477 shares of the technology company’s stock worth $209,000 after acquiring an additional 364 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director directly owned 16,218 shares in the company, valued at $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their price objective on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Truist Financial set a $37.00 target price on Match Group in a research report on Wednesday, May 6th. Finally, Barclays lifted their target price on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.29.

Match Group Stock Performance

NASDAQ:MTCH opened at $39.18 on Wednesday. Match Group Inc. has a one year low of $28.81 and a one year high of $39.79. The firm has a market cap of $9.14 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.60 and a beta of 1.30. The firm has a 50-day simple moving average of $36.14 and a 200-day simple moving average of $33.35.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $863.93 million for the quarter, compared to the consensus estimate of $854.70 million. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, research analysts predict that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. Match Group’s dividend payout ratio is currently 30.53%.

Match Group 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.