Principal Financial Group Inc. lessened its stake in IAC/InterActiveCorp (NASDAQ:IAC) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,622 shares of the company’s stock after selling 1,854 shares during the quarter. Principal Financial Group Inc.’s holdings in IAC/InterActiveCorp were worth $3,226,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of IAC. Morgan Stanley lifted its holdings in shares of IAC/InterActiveCorp by 153.4% in the third quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock valued at $318,880,000 after purchasing an additional 890,730 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of IAC/InterActiveCorp by 16.8% in the fourth quarter. BlackRock Inc. now owns 5,259,290 shares of the company’s stock valued at $962,663,000 after purchasing an additional 756,555 shares in the last quarter. Glenmede Trust Co. NA bought a new position in shares of IAC/InterActiveCorp in the third quarter valued at approximately $61,036,000. First Manhattan Co. lifted its holdings in shares of IAC/InterActiveCorp by 25.8% in the fourth quarter. First Manhattan Co. now owns 1,183,878 shares of the company’s stock valued at $216,697,000 after purchasing an additional 242,519 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of IAC/InterActiveCorp by 1,518.7% in the fourth quarter. Bank of Montreal Can now owns 186,852 shares of the company’s stock valued at $34,201,000 after purchasing an additional 175,309 shares in the last quarter. Institutional investors own 89.37% of the company’s stock.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered IAC/InterActiveCorp from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine lowered IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. BidaskClub lowered IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a report on Saturday, March 30th. Aegis reiterated a “buy” rating and set a $300.00 price target (up from $250.00) on shares of IAC/InterActiveCorp in a report on Wednesday, March 20th. Finally, Jefferies Financial Group lifted their price target on IAC/InterActiveCorp to $260.00 in a report on Monday, February 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the stock. IAC/InterActiveCorp currently has an average rating of “Buy” and an average price target of $240.83.
In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 2,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $211.22, for a total value of $422,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David S. Rosenblatt sold 4,528 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $220.64, for a total value of $999,057.92. The disclosure for this sale can be found here. Insiders sold 11,528 shares of company stock valued at $2,466,478 over the last three months. Company insiders own 10.90% of the company’s stock.
NASDAQ:IAC opened at $216.00 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.13 and a quick ratio of 3.13. IAC/InterActiveCorp has a 1 year low of $128.80 and a 1 year high of $224.63. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.54 and a beta of 1.08.
IAC/InterActiveCorp (NASDAQ:IAC) last released its earnings results on Thursday, February 7th. The company reported $2.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $1.05. IAC/InterActiveCorp had a return on equity of 16.11% and a net margin of 14.71%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities research analysts predict that IAC/InterActiveCorp will post 4.22 EPS 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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