Vivaldi Capital Management LLC Lowers Stake in IAC/InterActiveCorp (NASDAQ:IAC)

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Vivaldi Capital Management LLC reduced its holdings in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 42.9% in the second quarter, HoldingsChannel reports. The fund owned 6,036 shares of the company’s stock after selling 4,535 shares during the period. Vivaldi Capital Management LLC’s holdings in IAC/InterActiveCorp were worth $1,313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Next Capital Management LLC purchased a new position in IAC/InterActiveCorp in the second quarter worth about $28,000. Valeo Financial Advisors LLC purchased a new position in IAC/InterActiveCorp in the second quarter worth about $29,000. Icon Wealth Partners LLC purchased a new position in IAC/InterActiveCorp in the first quarter worth about $32,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in IAC/InterActiveCorp by 78.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock worth $42,000 after buying an additional 85 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new position in IAC/InterActiveCorp in the first quarter worth about $56,000. 89.71% of the stock is owned by institutional investors.

Shares of IAC stock traded down $1.38 during trading hours on Friday, reaching $231.63. The company had a trading volume of 296,899 shares, compared to its average volume of 739,718. The business has a fifty day moving average price of $245.44 and a 200-day moving average price of $228.81. IAC/InterActiveCorp has a one year low of $158.29 and a one year high of $268.72. The firm has a market cap of $19.94 billion, a PE ratio of 41.44 and a beta of 0.94. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.11.

IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.27. IAC/InterActiveCorp had a net margin of 11.99% and a return on equity of 12.44%. The firm 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 business posted $2.32 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts forecast that IAC/InterActiveCorp will post 4.4 EPS for the current year.

IAC has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of IAC/InterActiveCorp from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, August 12th. BidaskClub cut shares of IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Guggenheim raised shares of IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a report on Friday, August 9th. Aegis reaffirmed a “buy” rating and issued a $320.00 target price on shares of IAC/InterActiveCorp in a report on Tuesday, September 3rd. Finally, Zacks Investment Research cut shares of IAC/InterActiveCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $287.37.

In related news, CEO Joseph Levin sold 56,703 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $240.78, for a total transaction of $13,652,948.34. Following the completion of the sale, the chief executive officer now directly owns 222,263 shares in the company, valued at $53,516,485.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $441,380.00. The disclosure for this sale can be found here. Insiders have sold 185,781 shares of company stock valued at $46,309,265 over the last 90 days. 11.50% of the stock is currently owned by company insiders.

About IAC/InterActiveCorp

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.

Read More: Understanding the Price to Earnings Ratio (PE)

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

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