Hsbc Holdings PLC Buys New Holdings in Match Group Inc. $MTCH

Hsbc Holdings PLC purchased a new position in Match Group Inc. (NASDAQ:MTCH) in the second quarter, Holdings Channel reports. The fund purchased 63,344 shares of the technology company’s stock, valued at approximately $2,395,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTCH. Canada Pension Plan Investment Board purchased a new stake in shares of Match Group in the 2nd quarter valued at approximately $11,046,000. Legal & General Group Plc purchased a new stake in shares of Match Group during the 2nd quarter worth $19,921,000. The Manufacturers Life Insurance Company acquired a new position in shares of Match Group during the second quarter worth $2,594,000. Manning & Napier Advisors LLC acquired a new position in shares of Match Group during the second quarter worth $9,600,000. Finally, SaddleRock Capital Management LLC acquired a new position in shares of Match Group during the second quarter worth $9,814,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Match Group news, Director Glenn Schiffman bought 3,000 shares of Match Group stock in a transaction on Tuesday, August 11th. The stock was bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the completion of the acquisition, the director owned 56,370 shares in the company, valued at $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Bailey sold 4,760 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total transaction of $201,157.60. Following the completion of the sale, the director owned 11,742 shares of the company’s stock, valued at $496,216.92. This trade represents a 28.84% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is currently owned by company insiders.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $41.58 on Monday. The firm has a fifty day moving average price of $38.61 and a 200 day moving average price of $35.29. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $42.49. The stock has a market cap of $9.54 billion, a P/E ratio of 14.69, a P/E/G ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Sell-side analysts expect that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s dividend payout ratio is 28.27%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. TD Cowen cut their price target on Match Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen downgraded Match Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group raised their target price on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Piper Sandler set a $51.00 target price on Match Group in a research note on Wednesday, May 6th. Finally, Morgan Stanley set a $40.00 price target on shares of Match Group in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.46.

Match Group Company 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.