M&T Bank Corp Reduces Position in IAC/InterActiveCorp (IAC)

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M&T Bank Corp trimmed its position in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,572 shares of the company’s stock after selling 111 shares during the quarter. M&T Bank Corp’s holdings in IAC/InterActiveCorp were worth $653,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley boosted its stake in IAC/InterActiveCorp by 153.4% during the third quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock worth $318,880,000 after buying an additional 890,730 shares during the last quarter. FMR LLC boosted its stake in IAC/InterActiveCorp by 118.6% during the third quarter. FMR LLC now owns 1,423,857 shares of the company’s stock worth $308,578,000 after buying an additional 772,398 shares during the last quarter. Senator Investment Group LP acquired a new position in IAC/InterActiveCorp during the third quarter worth $92,106,000. Eagle Asset Management Inc. boosted its stake in IAC/InterActiveCorp by 1,349.2% during the third quarter. Eagle Asset Management Inc. now owns 364,843 shares of the company’s stock worth $79,068,000 after buying an additional 339,668 shares during the last quarter. Finally, Glenmede Trust Co. NA acquired a new position in IAC/InterActiveCorp during the third quarter worth $61,036,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

In related news, Director David S. Rosenblatt sold 4,528 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $220.64, for a total value of $999,057.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn Schiffman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,528 shares of company stock valued at $1,795,588 over the last ninety days. 10.90% of the stock is owned by insiders.

IAC has been the topic of a number of recent research reports. BidaskClub lowered IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Zacks Investment Research lowered IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. Wells Fargo & Co lowered their price objective on IAC/InterActiveCorp from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Monday, November 12th. ValuEngine raised IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 29th. Finally, Aegis reissued a “buy” rating and set a $250.00 price objective on shares of IAC/InterActiveCorp in a research note on Thursday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. IAC/InterActiveCorp currently has a consensus rating of “Buy” and an average price target of $235.54.

IAC opened at $220.02 on Monday. IAC/InterActiveCorp has a one year low of $128.80 and a one year high of $223.98. The stock has a market capitalization of $18.37 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.44 and a beta of 1.14. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.60.

IAC/InterActiveCorp (NASDAQ:IAC) last announced its earnings results on Thursday, February 7th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $1.05. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. IAC/InterActiveCorp had a return on equity of 16.53% and a net margin of 14.71%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. On average, research analysts expect that IAC/InterActiveCorp will post 4.43 earnings per share for the current year.

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IAC/InterActiveCorp 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.

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Institutional Ownership by Quarter for IAC/InterActiveCorp (NASDAQ:IAC)

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