Marco Investment Management LLC lowered its position in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,009 shares of the company’s stock after selling 1,000 shares during the period. Marco Investment Management LLC’s holdings in IAC/InterActiveCorp were worth $1,106,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of IAC. Norges Bank acquired a new stake in shares of IAC/InterActiveCorp during the fourth quarter valued at $50,583,000. Henderson Group PLC purchased a new stake in IAC/InterActiveCorp during the first quarter worth approximately $28,156,000. Russell Investments Group Ltd. purchased a new stake in IAC/InterActiveCorp during the fourth quarter worth approximately $23,196,000. Assenagon Asset Management S.A. purchased a new stake in IAC/InterActiveCorp during the fourth quarter worth approximately $17,862,000. Finally, Davidson Kempner Capital Management LP increased its stake in IAC/InterActiveCorp by 40.7% in the fourth quarter. Davidson Kempner Capital Management LP now owns 950,000 shares of the company’s stock worth $61,560,000 after buying an additional 275,000 shares in the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.
Shares of IAC/InterActiveCorp (NASDAQ:IAC) traded down 0.99% on Tuesday, reaching $103.34. 183,586 shares of the company were exchanged. The firm has a 50 day moving average price of $102.42 and a 200-day moving average price of $80.06. IAC/InterActiveCorp has a 12-month low of $52.23 and a 12-month high of $107.98. The stock’s market capitalization is $8.13 billion.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Wednesday, May 3rd. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.04. IAC/InterActiveCorp had a positive return on equity of 8.43% and a negative net margin of 0.76%. The company had revenue of $760.80 million during the quarter, compared to analysts’ expectations of $718.31 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts predict that IAC/InterActiveCorp will post $3.04 EPS for the current fiscal year.
A number of research analysts have recently weighed in on the company. Bank of America Corporation reiterated a “buy” rating and set a $133.00 price target on shares of IAC/InterActiveCorp in a report on Wednesday, June 14th. SunTrust Banks, Inc. reissued a “buy” rating and set a $87.00 price objective on shares of IAC/InterActiveCorp in a research report on Monday, February 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $85.00 price target on shares of IAC/InterActiveCorp in a research report on Monday, April 10th. BMO Capital Markets reduced their price target on IAC/InterActiveCorp from $115.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, May 3rd. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $130.00 price objective (up previously from $111.00) on shares of IAC/InterActiveCorp in a research report on Sunday, May 28th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. IAC/InterActiveCorp currently has an average rating of “Buy” and an average price target of $96.95.
IAC/InterActiveCorp Company Profile
IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.
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