Hsbc Holdings PLC Sells 581,823 Shares of Match Group Inc. $MTCH

Key Points

• HSBC Holdings PLC reduced its stake in Match Group Inc. by 62.6%, selling 581,823 shares and retaining 347,153 shares, which is valued at approximately $10.82 million.
• Match Group announced a quarterly dividend of $0.19 per share, payable on October 17th, representing an annualized yield of 2.0%.
• Recent analyst reports show a mixed outlook on Match Group, with price targets ranging from $30.00 to $45.00 and a consensus rating of "Hold".

Hsbc Holdings PLC trimmed its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 62.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 347,153 shares of the technology company's stock after selling 581,823 shares during the period. Hsbc Holdings PLC owned about 0.14% of Match Group worth $10,822,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Match Group during the first quarter valued at $37,000. Summit Securities Group LLC acquired a new stake in Match Group in the first quarter worth about $54,000. Mather Group LLC. raised its holdings in Match Group by 130.1% during the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock worth $79,000 after purchasing an additional 1,434 shares during the last quarter. CX Institutional acquired a new position in Match Group during the 1st quarter valued at about $103,000. Finally, Assetmark Inc. boosted its stake in shares of Match Group by 14.1% in the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock valued at $108,000 after purchasing an additional 429 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares of the company's stock, valued at approximately $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.64% of the company's stock.

Match Group Stock Up 1.4%

Shares of NASDAQ MTCH opened at $37.30 on Monday. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 0.74 and a beta of 1.36. The company's fifty day moving average is $33.67 and its 200-day moving average is $31.72.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a yield of 2.0%. Match Group's payout ratio is currently 37.44%.

Wall Street Analyst Weigh In

MTCH has been the subject of a number of recent research reports. Susquehanna boosted their price target on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Citigroup lowered their target price on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Wells Fargo & Company upped their target price on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Evercore ISI raised their price target on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Finally, UBS Group lifted their price objective on Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Five analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.44.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.