BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 52.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,503 shares of the company’s stock after selling 21,275 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in IAC/InterActiveCorp were worth $3,570,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of IAC. BlackRock Inc. grew its position in 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 acquiring an additional 756,555 shares during the period. Canada Pension Plan Investment Board grew its position in IAC/InterActiveCorp by 5.9% in the third quarter. Canada Pension Plan Investment Board now owns 4,156,975 shares of the company’s stock valued at $900,900,000 after acquiring an additional 229,800 shares during the period. Morgan Stanley grew its position in 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 acquiring an additional 890,730 shares during the period. FMR LLC grew its position in IAC/InterActiveCorp by 118.6% in the third quarter. FMR LLC now owns 1,423,857 shares of the company’s stock valued at $308,578,000 after acquiring an additional 772,398 shares during the period. Finally, First Manhattan Co. grew its position in 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 acquiring an additional 242,519 shares during the period. Institutional investors own 88.63% of the company’s stock.
In related news, CFO Glenn Schiffman sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $213.68, for a total value of $427,360.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David S. Rosenblatt sold 4,528 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were 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. In the last quarter, insiders sold 10,528 shares of company stock worth $2,222,948. 10.90% of the stock is owned by company insiders.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its earnings results on Thursday, February 7th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $0.99 by $1.05. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IAC/InterActiveCorp had a return on equity of 16.11% and a net margin of 14.71%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. As a group, equities analysts predict that IAC/InterActiveCorp will post 4.5 EPS for the current year.
A number of analysts have weighed in on the company. ValuEngine upgraded IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 29th. Macquarie assumed coverage on IAC/InterActiveCorp in a research report on Wednesday, November 28th. They issued an “outperform” rating on the stock. Aegis reiterated a “buy” rating and issued a $250.00 price target on shares of IAC/InterActiveCorp in a research report on Thursday, November 22nd. BidaskClub upgraded IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Finally, BMO Capital Markets upped their price target on IAC/InterActiveCorp from $287.00 to $291.00 and gave the company an “outperform” rating in a research report on Monday, February 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $235.54.
TRADEMARK VIOLATION WARNING: This report was published by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://dakotafinancialnews.com/2019/03/15/iac-interactivecorp-iac-shares-sold-by-british-columbia-investment-management-corp.html.
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.
Recommended Story: What is a Futures Contract?
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.