Match Group Inc. $MTCH Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its Match Group stake by 64.1% in the first quarter, selling 341,185 shares and leaving it with 191,480 shares worth about $5.9 million.
• Match Group reported better-than-expected Q1 earnings, posting $0.68 EPS versus the $0.61 estimate and revenue of $863.93 million, up 3.9% year over year.
• Analysts remain mixed on the stock, with several raising price targets but the overall consensus still at “Hold” and an average target price of $41.29.

Hsbc Holdings PLC cut its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 64.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,480 shares of the technology company's stock after selling 341,185 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Match Group worth $5,878,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in 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 acquiring an additional 2,461,025 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company's stock worth $385,590,000 after purchasing an additional 162,330 shares in the last quarter. Starboard Value LP grew its stake in shares of Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company's stock worth $367,957,000 after purchasing an additional 325,000 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Match Group by 9.8% during the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company's stock valued at $316,422,000 after purchasing an additional 872,524 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Match Group by 32.8% during the fourth quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company's stock valued at $261,692,000 after purchasing an additional 2,011,970 shares during the period. Institutional investors own 94.05% of the company's stock.

Insider Activity at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the 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 owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup boosted their price target on shares of Match Group from $33.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. UBS Group increased their price objective on shares of Match Group from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Wells Fargo & Company raised their price objective on shares of Match Group from $38.00 to $41.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. Royal Bank Of Canada boosted their target price on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Finally, Barclays upped their target price on Match Group from $49.00 to $51.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Match Group has an average rating of "Hold" and a consensus target price of $41.29.

Match Group Trading Down 1.7%

NASDAQ:MTCH opened at $37.40 on Friday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.03. The company has a 50-day moving average of $36.67 and a 200-day moving average of $33.89. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last released 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 net margin of 18.83% and a negative return on equity of 307.45%. The business had revenue of $863.93 million for the quarter, compared to the consensus estimate of $854.70 million. During the same period in the previous year, the firm earned $0.44 EPS. The business's revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts forecast that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group's dividend payout ratio is currently 30.53%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.