TD Asset Management Inc. lifted its holdings in IAC/InterActiveCorp (NASDAQ:IAC) by 13.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 194,212 shares of the company’s stock after buying an additional 22,696 shares during the quarter. TD Asset Management Inc.’s holdings in IAC/InterActiveCorp were worth $42,247,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of IAC. BlackRock Inc. grew its position in shares of IAC/InterActiveCorp by 10.3% in the 1st quarter. BlackRock Inc. now owns 5,802,759 shares of the company’s stock valued at $1,219,215,000 after purchasing an additional 543,469 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of IAC/InterActiveCorp by 142.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 717,369 shares of the company’s stock worth $156,049,000 after purchasing an additional 420,943 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of IAC/InterActiveCorp by 135.0% during the 1st quarter. Wells Fargo & Company MN now owns 488,265 shares of the company’s stock worth $102,588,000 after purchasing an additional 280,499 shares in the last quarter. SQN Investors LP bought a new stake in shares of IAC/InterActiveCorp during the 1st quarter worth approximately $47,106,000. Finally, SG Americas Securities LLC raised its stake in shares of IAC/InterActiveCorp by 2,113.3% during the 2nd quarter. SG Americas Securities LLC now owns 185,367 shares of the company’s stock worth $40,323,000 after purchasing an additional 176,992 shares in the last quarter. Institutional investors and hedge funds own 90.41% of the company’s stock.
IAC traded up $3.47 during trading hours on Thursday, reaching $243.83. The company’s stock had a trading volume of 9,793 shares, compared to its average volume of 705,354. IAC/InterActiveCorp has a 52 week low of $158.29 and a 52 week high of $268.72. The company’s 50-day simple moving average is $235.57. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.65. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of 43.69, a PEG ratio of 3.49 and a beta of 0.96.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.27. IAC/InterActiveCorp had a return on equity of 12.76% and a net margin of 11.99%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business earned $2.32 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts predict that IAC/InterActiveCorp will post 4.57 EPS for the current year.
A number of equities research analysts have recently issued reports on IAC shares. Bank of America upped their price objective on IAC/InterActiveCorp from $273.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Credit Suisse Group upped their price objective on IAC/InterActiveCorp from $263.00 to $284.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Oppenheimer upped their price objective on IAC/InterActiveCorp from $285.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on IAC/InterActiveCorp from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Finally, ValuEngine cut IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $287.37.
In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $220.69, for a total transaction of $441,380.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael H. Schwerdtman sold 6,676 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $255.55, for a total value of $1,706,051.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,676 shares of company stock worth $3,295,272. 11.50% of the stock is owned by company insiders.
IAC/InterActiveCorp Company Profile
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.
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