Hsbc Holdings PLC Reduces Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Hsbc Holdings PLC reduced its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 14.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 967,923 shares of the technology company’s stock after selling 164,182 shares during the quarter. Hsbc Holdings PLC owned 0.36% of Match Group worth $29,299,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MTCH. Assenagon Asset Management S.A. acquired a new stake in Match Group in the second quarter valued at $100,848,000. Norges Bank bought a new stake in shares of Match Group in the 4th quarter worth about $112,903,000. Bank of Nova Scotia increased its position in shares of Match Group by 17,295.4% in the 4th quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company’s stock worth $78,678,000 after purchasing an additional 2,143,240 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of Match Group in the 4th quarter worth about $47,613,000. Finally, Schroder Investment Management Group increased its position in shares of Match Group by 290.8% in the 4th quarter. Schroder Investment Management Group now owns 1,566,334 shares of the technology company’s stock worth $57,171,000 after purchasing an additional 1,165,576 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Down 1.5 %

MTCH stock opened at $36.30 on Friday. The company has a market capitalization of $9.64 billion, a P/E ratio of 15.78, a PEG ratio of 0.72 and a beta of 1.50. The company has a 50-day simple moving average of $35.58 and a 200 day simple moving average of $33.28. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The company had revenue of $864.07 million for the quarter, compared to analysts’ expectations of $856.51 million. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS. Equities analysts anticipate that Match Group, Inc. will post 1.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MTCH. Wolfe Research began coverage on shares of Match Group in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Evercore ISI raised shares of Match Group to a “strong-buy” rating in a research report on Thursday, August 1st. Citigroup boosted their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Match Group 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.