Stephens Inc. AR raised its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 95.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,611 shares of the company’s stock after acquiring an additional 1,277 shares during the quarter. Stephens Inc. AR’s holdings in IAC/InterActiveCorp were worth $568,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in IAC/InterActiveCorp by 51.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,218 shares of the company’s stock worth $1,413,000 after purchasing an additional 2,115 shares during the period. Coastal Investment Advisors Inc. increased its position in IAC/InterActiveCorp by 20.6% in the second quarter. Coastal Investment Advisors Inc. now owns 733 shares of the company’s stock worth $158,000 after purchasing an additional 125 shares during the period. TD Asset Management Inc. grew its position in shares of IAC/InterActiveCorp by 13.2% during the 2nd quarter. TD Asset Management Inc. now owns 194,212 shares of the company’s stock worth $42,247,000 after buying an additional 22,696 shares during the period. Pendal Group Ltd acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth about $576,000. Finally, Westpac Banking Corp grew its position in shares of IAC/InterActiveCorp by 13.3% during the 2nd quarter. Westpac Banking Corp now owns 6,490 shares of the company’s stock worth $1,412,000 after buying an additional 763 shares during the period. 90.58% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on IAC/InterActiveCorp from $319.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Bank of America boosted their target price on IAC/InterActiveCorp from $273.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. ValuEngine lowered IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Barclays boosted their target price on IAC/InterActiveCorp from $295.00 to $311.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Oppenheimer boosted their target price on IAC/InterActiveCorp from $285.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $287.37.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.27. IAC/InterActiveCorp had a return on equity of 12.44% and a net margin of 11.99%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the firm earned $2.32 EPS. IAC/InterActiveCorp’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts predict that IAC/InterActiveCorp will post 4.46 EPS for the current fiscal year.
In other IAC/InterActiveCorp news, SVP Michael H. Schwerdtman sold 6,676 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Glenn Schiffman sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $220.69, for a total value of $441,380.00. The disclosure for this sale can be found here. Insiders sold a total of 13,676 shares of company stock worth $3,295,272 in the last 90 days. Company insiders own 11.50% 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. 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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