CIBC Private Wealth Group LLC Reduces Stock Holdings in IAC/InterActiveCorp (NASDAQ:IAC)

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CIBC Private Wealth Group LLC reduced its stake in IAC/InterActiveCorp (NASDAQ:IAC) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,195 shares of the company’s stock after selling 118 shares during the period. CIBC Private Wealth Group LLC’s holdings in IAC/InterActiveCorp were worth $5,492,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of IAC/InterActiveCorp by 4.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,458,468 shares of the company’s stock valued at $2,927,621,000 after acquiring an additional 533,168 shares during the period. Vanguard Group Inc. boosted its holdings in shares of IAC/InterActiveCorp by 3.1% in the second quarter. Vanguard Group Inc. now owns 7,033,024 shares of the company’s stock valued at $1,529,893,000 after acquiring an additional 213,132 shares during the period. BlackRock Inc. boosted its holdings in shares of IAC/InterActiveCorp by 10.6% in the second quarter. BlackRock Inc. now owns 6,418,237 shares of the company’s stock valued at $1,396,160,000 after acquiring an additional 615,478 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of IAC/InterActiveCorp by 1,446.6% in the second quarter. Nuveen Asset Management LLC now owns 3,086,359 shares of the company’s stock valued at $671,375,000 after acquiring an additional 2,886,801 shares during the period. Finally, First Manhattan Co. boosted its holdings in shares of IAC/InterActiveCorp by 15.7% in the second quarter. First Manhattan Co. now owns 1,383,359 shares of the company’s stock valued at $300,922,000 after acquiring an additional 187,845 shares during the period. Institutional investors own 89.65% of the company’s stock.

In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $228.37, for a total value of $228,370.00. Also, SVP Michael H. Schwerdtman sold 6,676 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were 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. In the last three months, insiders sold 185,781 shares of company stock valued at $46,305,995. 11.50% of the stock is owned by corporate insiders.

Shares of NASDAQ IAC opened at $221.85 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 fifty day moving average price of $231.72 and a 200 day moving average price of $230.57. IAC/InterActiveCorp has a 1-year low of $158.29 and a 1-year high of $268.72. The company has a market cap of $19.53 billion, a PE ratio of 39.69 and a beta of 0.90.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.19 earnings per share for the quarter, topping 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 firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company earned $2.32 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts anticipate that IAC/InterActiveCorp will post 4.4 earnings per share for the current fiscal year.

IAC has been the subject of several research analyst reports. Oppenheimer increased their price objective on IAC/InterActiveCorp from $285.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cowen set a $315.00 price objective on IAC/InterActiveCorp and gave the company a “buy” rating in a report on Wednesday, September 18th. Guggenheim raised IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Friday, August 9th. BidaskClub raised IAC/InterActiveCorp from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Finally, Bank of America increased their price target on IAC/InterActiveCorp from $340.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $292.16.

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.

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

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