State Board of Administration of Florida Retirement System reduced its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,264 shares of the company’s stock after selling 4,664 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in IAC/InterActiveCorp were worth $34,689,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Squarepoint Ops LLC acquired a new position in shares of IAC/InterActiveCorp in the first quarter valued at about $3,428,000. Ameritas Investment Company LLC acquired a new position in shares of IAC/InterActiveCorp in the first quarter valued at about $29,000. Cipher Capital LP acquired a new position in shares of IAC/InterActiveCorp in the first quarter valued at about $233,000. Tower Research Capital LLC TRC increased its holdings in shares of IAC/InterActiveCorp by 7.7% in the first quarter. Tower Research Capital LLC TRC now owns 2,156 shares of the company’s stock valued at $386,000 after purchasing an additional 154 shares during the period. Finally, FDx Advisors Inc. increased its holdings in shares of IAC/InterActiveCorp by 3,901.2% in the first quarter. FDx Advisors Inc. now owns 32,810 shares of the company’s stock valued at $416,000 after purchasing an additional 31,990 shares during the period. Hedge funds and other institutional investors own 0.02% of the company’s stock.
A number of research analysts have recently weighed in on the company. Credit Suisse Group increased their price objective on IAC/InterActiveCorp from $92.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday. Nomura increased their price objective on IAC/InterActiveCorp from $296.00 to $323.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wells Fargo & Co reissued a “buy” rating on shares of IAC/InterActiveCorp in a report on Friday, July 17th. Bank of America cut their price objective on IAC/InterActiveCorp from $381.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Finally, Goldman Sachs Group began coverage on IAC/InterActiveCorp in a report on Wednesday, July 8th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $214.05.
In other news, CAO Michael H. Schwerdtman sold 3,097 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $121.95, for a total value of $377,679.15. Following the transaction, the chief accounting officer now owns 9,781 shares in the company, valued at $1,192,792.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Iac/Interactivecorp bought 2,912,551 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $17.73 per share, for a total transaction of $51,639,529.23. Following the transaction, the insider now owns 52,240,668 shares of the company’s stock, valued at $926,227,043.64. The disclosure for this purchase can be found here. Corporate insiders own 11.50% of the company’s stock.
IAC stock traded down $0.42 during mid-day trading on Friday, reaching $126.68. 8,531 shares of the company’s stock were exchanged, compared to its average volume of 1,117,831. The stock’s 50 day moving average is $126.25 and its 200 day moving average is $203.83. IAC/InterActiveCorp has a 12-month low of $100.22 and a 12-month high of $136.02.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings results on Monday, August 10th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.95). The business had revenue of $726.40 million during the quarter, compared to the consensus estimate of $771.01 million. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 EPS. On average, research analysts predict that IAC/InterActiveCorp will post -4.76 earnings per share for the current fiscal year.
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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