Hsbc Holdings PLC reduced its position in Match Group Inc. (NASDAQ:MTCH – Free Report) by 64.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 191,480 shares of the technology company’s stock after selling 341,185 shares during the quarter. Hsbc Holdings PLC’s holdings in Match Group were worth $5,878,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in MTCH. State Street Corp boosted its stake in Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the period. Ameriprise Financial Inc. grew its position in Match Group by 1.3% during the 2nd 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 raised its stake in Match Group by 2.9% during the 4th quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after purchasing an additional 325,000 shares during the period. Invesco Ltd. raised its stake in Match Group by 9.8% during the 4th 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 lifted its holdings in shares of Match Group by 32.8% in 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 in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on MTCH shares. Royal Bank Of Canada raised their target price on Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. TD Cowen increased their price objective on Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. UBS Group increased their price objective on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Finally, Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Match Group presently has an average rating of “Hold” and an average price target of $41.29.
Match Group Stock Down 1.7%
Match Group stock opened at $37.40 on Friday. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.03. The stock has a market cap of $8.72 billion, a P/E ratio of 14.27, a P/E/G ratio of 0.61 and a beta of 1.30. The company’s fifty day simple moving average is $36.67 and its 200-day simple moving average is $33.89.
Match Group (NASDAQ:MTCH – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.Match Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. On average, equities research analysts expect that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.
Match Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Match Group’s dividend payout ratio (DPR) is 30.53%.
Insider Buying and Selling at Match Group
In other news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction dated 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 directly owned 16,218 shares in the company, valued at $582,874.92. The trade was a 24.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is owned by company insiders.
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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