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

Key Points

• Hsbc Holdings PLC boosted its stake in Match Group by 24.2% in the fourth quarter, buying an additional 103,774 shares and bringing its total holding to 532,665 shares worth about $17.1 million.
• Match Group reported better-than-expected quarterly results, posting $0.68 EPS versus estimates of $0.61 and revenue of $863.93 million, up 3.9% year over year.
• Analysts remain mixed on MTCH: several raised price targets, but the stock’s overall consensus rating is Hold with an average target price of $41.07. The company also announced a quarterly dividend of $0.20 per share, or $0.80 annually.

Hsbc Holdings PLC increased its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 owned about 0.23% of Match Group worth $17,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTCH. Activest Wealth Management increased its holdings in shares of Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company's stock worth $28,000 after purchasing an additional 848 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Match Group in the third quarter worth $28,000. Parkside Financial Bank & Trust lifted its holdings in shares of Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $33,000 after purchasing an additional 356 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Match Group during the fourth quarter valued at $38,000. Finally, Root Financial Partners LLC boosted its position in shares of Match Group by 63.9% during the fourth quarter. Root Financial Partners LLC now owns 1,254 shares of the technology company's stock valued at $40,000 after buying an additional 489 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MTCH has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Match Group from $35.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on shares of Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on shares of Match Group from $30.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Match Group from a "hold" rating to a "buy" rating in a research report on Sunday, April 26th. Finally, Piper Sandler set a $51.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $41.07.

Insider Buying and Selling at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by insiders.

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 price-to-earnings ratio of 13.34, a PEG 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 firm has a fifty day moving average price of $35.75 and a 200-day moving average price of $33.08.

Match Group (NASDAQ:MTCH - Get Free Report) 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. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The company had revenue of $863.93 million for the quarter, compared to analysts' expectations of $854.70 million. During the same period last year, the firm earned $0.44 EPS. Match Group's revenue for the quarter was up 3.9% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. Match Group's dividend payout ratio (DPR) is 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.

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