Artemis Investment Management LLP lessened its stake in IAC/InterActiveCorp (NASDAQ:IAC) by 37.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,592 shares of the company’s stock after selling 11,949 shares during the quarter. Artemis Investment Management LLP’s holdings in IAC/InterActiveCorp were worth $4,269,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IAC. Next Capital Management LLC acquired a new stake in shares of IAC/InterActiveCorp in the 2nd quarter valued at approximately $28,000. Valeo Financial Advisors LLC acquired a new stake in IAC/InterActiveCorp during the 2nd quarter valued at $29,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in IAC/InterActiveCorp by 78.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock valued at $42,000 after purchasing an additional 85 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in IAC/InterActiveCorp during the 1st quarter valued at $56,000. Finally, Assetmark Inc. lifted its holdings in IAC/InterActiveCorp by 119.1% during the 2nd quarter. Assetmark Inc. now owns 298 shares of the company’s stock valued at $65,000 after purchasing an additional 162 shares during the last quarter. 89.71% of the stock is owned by institutional investors.
IAC stock opened at $227.03 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.11 and a quick ratio of 4.11. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 40.61 and a beta of 0.90. The business’s fifty day moving average price is $235.71 and its two-hundred day moving average price is $230.04. IAC/InterActiveCorp has a fifty-two week low of $158.29 and a fifty-two week high of $268.72.
In other IAC/InterActiveCorp news, CEO Joseph Levin sold 56,703 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $240.78, for a total transaction of $13,652,948.34. Following the transaction, the chief executive officer now owns 222,263 shares in the company, valued at approximately $53,516,485.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Insiders have sold a total of 185,781 shares of company stock worth $46,305,995 in the last quarter. Company insiders own 11.50% of the company’s stock.
Several brokerages have issued reports on IAC. Cowen set a $315.00 price target on IAC/InterActiveCorp and gave the company a “buy” rating in a report on Wednesday, September 18th. SunTrust Banks raised their price target on IAC/InterActiveCorp from $250.00 to $265.00 and gave the company a “buy” rating in a report on Friday, August 9th. Guggenheim raised IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a report on Friday, August 9th. Nomura raised their price target on IAC/InterActiveCorp from $282.00 to $314.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Barclays raised their price target on IAC/InterActiveCorp from $295.00 to $311.00 and gave the company an “overweight” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $288.69.
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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