Hsbc Holdings PLC Raises Stock Holdings in Match Group Inc. $MTCH

Key Points

• HSBC Holdings PLC increased its stake in Match Group by 24.2% in the fourth quarter, adding 103,774 shares and bringing its total holding to 532,665 shares worth about $17.1 million.
• Match Group beat quarterly expectations, reporting adjusted EPS of $0.68 versus the $0.61 consensus and revenue of $863.93 million, up 3.9% from a year earlier.
• The company also announced a quarterly dividend of $0.20 per share, equal to a 2.0% annualized yield, while analysts currently have a consensus rating of “Hold” with a target price of $41.29.

Hsbc Holdings PLC grew its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 24.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 532,665 shares of the technology company's stock after acquiring an additional 103,774 shares during the quarter. 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 large investors also recently bought and sold shares of the business. Bollard Group LLC raised its stake in Match Group by 0.6% during the third quarter. Bollard Group LLC now owns 54,875 shares of the technology company's stock valued at $1,938,000 after purchasing an additional 317 shares in the last quarter. True Wealth Design LLC lifted its position in Match Group by 12.8% during the fourth quarter. True Wealth Design LLC now owns 2,813 shares of the technology company's stock valued at $91,000 after purchasing an additional 320 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Match Group by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company's stock worth $133,000 after buying an additional 326 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of 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 buying an additional 356 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of 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 buying an additional 364 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MTCH shares. Weiss Ratings upgraded shares of Match Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada boosted their price objective on 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 upped their price objective on Match Group from $38.00 to $41.00 and gave the company an "equal weight" rating in a research report on Tuesday. Truist Financial set a $37.00 price objective on Match Group in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $43.00 target price on shares of Match Group in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $41.29.

Match Group Trading Up 4.0%

Shares of MTCH opened at $39.18 on Wednesday. The company's fifty day simple moving average is $36.14 and its 200-day simple moving average is $33.35. The company 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. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $39.79.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly 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 net margin of 18.83% and a negative return on equity of 307.45%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. Analysts predict that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Dividend Announcement

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

Insider Activity at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the company'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 transaction, the director owned 16,218 shares of the company's stock, valued at approximately $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company's stock.

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.

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