5 Stocks Under $50 Billionaires Are Loading Up On

In this article, we will take a look at the 5 stocks under $50 billionaires are loading up on. To read our analysis of the recent market activity, you can go to the 10 Stocks Under $50 Billionaires Are Loading Up On.

5. Match Group, Inc. (NASDAQ:MTCH)

Number of Billionaire Holders: 16

Dallas, Texas-based Match Group, Inc. (NASDAQ:MTCH) is an internet and technology company operating a portfolio of more than 40 leading dating services apps including Match, OkCupid, Tinder, and Hinge, among others.

On May 2, Match Group, Inc. (NASDAQ:MTCH) reported the financial results for Q1 2023. It generated total revenues of $787 million and a net income of $121 million. Following the earnings release, TD Cowen lowered the price target on Match Group, Inc. (NASDAQ:MTCH) shares to $66 from $70 but maintained an ‘Outperform’ rating for the shares.

On April 28, the board of directors of Match Group, Inc. (NASDAQ:MTCH) approved a new share repurchase program for repurchase of up to $1.0 billion in its common stock. Under the previous program, the company repurchased $113 million worth of its shares during the first quarter.

According to the Insider Monkey data on 943 leading hedge funds, 52 hedge funds were long Match Group, Inc. (NASDAQ:MTCH) shares as of Q1 2023, with the total shares held by hedge funds valued at $602 million.