Utah Retirement Systems continued to hold its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,808 shares of the company’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in IAC/InterActiveCorp were worth $944,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in IAC. Creative Planning raised its stake in shares of IAC/InterActiveCorp by 0.6% in the first quarter. Creative Planning now owns 1,687 shares of the company’s stock valued at $124,000 after buying an additional 10 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of IAC/InterActiveCorp during the fourth quarter valued at about $162,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of IAC/InterActiveCorp by 0.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,670 shares of the company’s stock valued at $177,000 after buying an additional 25 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of IAC/InterActiveCorp during the first quarter valued at about $201,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of IAC/InterActiveCorp during the first quarter valued at about $221,000. Institutional investors and hedge funds own 84.37% of the company’s stock.
Shares of IAC/InterActiveCorp (IAC) traded down 0.60% during midday trading on Tuesday, hitting $103.74. The stock had a trading volume of 104,359 shares. The company’s 50 day moving average price is $102.42 and its 200-day moving average price is $80.06. IAC/InterActiveCorp has a 1-year low of $52.23 and a 1-year high of $107.98. The firm’s market capitalization is $8.16 billion.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its earnings results on Wednesday, May 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.04. IAC/InterActiveCorp had a negative net margin of 0.76% and a positive return on equity of 8.43%. The firm had revenue of $760.80 million during the quarter, compared to analyst estimates of $718.31 million. During the same quarter last 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. Equities analysts predict that IAC/InterActiveCorp will post $3.04 earnings per share for the current year.
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Several brokerages recently issued reports on IAC. Zacks Investment Research upgraded IAC/InterActiveCorp from a “strong sell” rating to a “hold” rating in a report on Thursday, April 20th. Guggenheim upgraded IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Friday, May 5th. Cowen and Company reiterated an “outperform” rating and set a $90.00 price objective on shares of IAC/InterActiveCorp in a report on Monday, April 24th. Jefferies Group LLC reiterated a “hold” rating and set a $85.00 price objective on shares of IAC/InterActiveCorp in a report on Monday, April 10th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $133.00 price objective on shares of IAC/InterActiveCorp in a report on Wednesday, June 14th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $96.95.
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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