First Trust Advisors LP decreased its holdings in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,575 shares of the company’s stock after selling 33,335 shares during the quarter. First Trust Advisors LP owned approximately 0.29% of IAC/InterActiveCorp worth $52,354,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in IAC. Canada Pension Plan Investment Board boosted its stake in IAC/InterActiveCorp by 16.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,927,175 shares of the company’s stock valued at $598,855,000 after buying an additional 559,748 shares in the last quarter. FMR LLC boosted its stake in shares of IAC/InterActiveCorp by 331.1% during the second quarter. FMR LLC now owns 651,459 shares of the company’s stock valued at $99,341,000 after purchasing an additional 500,359 shares in the last quarter. Cadian Capital Management LP boosted its stake in shares of IAC/InterActiveCorp by 33.4% during the second quarter. Cadian Capital Management LP now owns 1,910,237 shares of the company’s stock valued at $291,292,000 after purchasing an additional 478,270 shares in the last quarter. BlackRock Inc. boosted its stake in shares of IAC/InterActiveCorp by 10.5% during the second quarter. BlackRock Inc. now owns 4,367,820 shares of the company’s stock valued at $666,045,000 after purchasing an additional 415,012 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of IAC/InterActiveCorp by 86.6% during the second quarter. Millennium Management LLC now owns 857,052 shares of the company’s stock valued at $130,692,000 after purchasing an additional 397,788 shares in the last quarter. 86.13% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on IAC. UBS Group lifted their price target on IAC/InterActiveCorp from $200.00 to $224.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Aegis lifted their price objective on IAC/InterActiveCorp from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. BidaskClub lowered IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. JPMorgan Chase & Co. lifted their price objective on IAC/InterActiveCorp from $186.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research upgraded IAC/InterActiveCorp from a “hold” rating to a “buy” rating and set a $239.00 target price for the company in a report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $211.75.
Shares of NASDAQ IAC opened at $195.60 on Tuesday. IAC/InterActiveCorp has a one year low of $118.83 and a one year high of $223.54. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.78 and a current ratio of 2.78. The firm has a market cap of $16.54 billion, a PE ratio of 254.03, a PEG ratio of 2.49 and a beta of 1.35.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $1.50. IAC/InterActiveCorp had a return on equity of 10.24% and a net margin of 13.09%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. As a group, research analysts expect that IAC/InterActiveCorp will post 5.33 EPS for the current fiscal year.
In related news, CFO Glenn Schiffman sold 2,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $199.05, for a total transaction of $398,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 10.90% of the company’s stock.
IAC/InterActiveCorp Company Profile
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. It operates through Match Group, ANGI Homeservices, Video, Applications, and Publishing segments. The Match Group segment provides subscription dating products, which enable users to establish a profile and review the profiles of other users in 42 languages.
Recommended Story: What is Cost of Debt?