Pendal Group Ltd decreased its stake in IAC/InterActiveCorp (NASDAQ:IAC) by 61.9% during the 3rd quarter, Holdings Channel reports. The fund owned 15,963 shares of the company’s stock after selling 25,925 shares during the period. Pendal Group Ltd’s holdings in IAC/InterActiveCorp were worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in IAC/InterActiveCorp by 16.6% during the second quarter. Canada Pension Plan Investment Board now owns 3,927,175 shares of the company’s stock worth $598,855,000 after buying an additional 559,748 shares in the last quarter. FMR LLC boosted its stake in shares of IAC/InterActiveCorp by 331.1% in the 2nd quarter. FMR LLC now owns 651,459 shares of the company’s stock valued at $99,341,000 after purchasing an additional 500,359 shares in the last quarter. Cadian Capital Management LP boosted its stake in shares of IAC/InterActiveCorp by 33.4% in the 2nd quarter. Cadian Capital Management LP now owns 1,910,237 shares of the company’s stock valued at $291,292,000 after purchasing an additional 478,270 shares in the last quarter. BlackRock Inc. boosted its stake in shares of IAC/InterActiveCorp by 10.5% in the 2nd quarter. BlackRock Inc. now owns 4,367,820 shares of the company’s stock valued at $666,045,000 after purchasing an additional 415,012 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of IAC/InterActiveCorp by 86.6% in the 2nd quarter. Millennium Management LLC now owns 857,052 shares of the company’s stock valued at $130,692,000 after purchasing an additional 397,788 shares in the last quarter. Institutional investors and hedge funds own 86.13% of the company’s stock.
Shares of IAC opened at $186.31 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.78 and a quick ratio of 2.78. IAC/InterActiveCorp has a 52-week low of $118.83 and a 52-week high of $223.54. The company has a market capitalization of $16.40 billion, a P/E ratio of 241.96, a price-to-earnings-growth ratio of 2.47 and a beta of 1.35.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.46. IAC/InterActiveCorp had a return on equity of 10.24% and a net margin of 13.09%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm earned $0.55 EPS. IAC/InterActiveCorp’s quarterly revenue was up 33.3% compared to the same quarter last year. Equities analysts forecast that IAC/InterActiveCorp will post 5.33 EPS for the current year.
In related news, CFO Glenn Schiffman sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $199.05, for a total value of $398,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.90% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. BidaskClub upgraded shares of IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. Barclays boosted their target price on shares of IAC/InterActiveCorp to $244.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Credit Suisse Group boosted their target price on shares of IAC/InterActiveCorp from $183.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research downgraded shares of IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Friday. 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 given a strong buy rating to the company’s stock. IAC/InterActiveCorp currently has an average rating of “Buy” and an average price target of $211.75.
IAC/InterActiveCorp Company 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.
Further Reading: How does inflation affect different investments?
Want to see what other hedge funds are holding IAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IAC/InterActiveCorp (NASDAQ:IAC).
Receive News & Ratings for IAC/InterActiveCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAC/InterActiveCorp and related companies with MarketBeat.com's FREE daily email newsletter.