Kornitzer Capital Management Inc. KS lifted its holdings in IAC/InterActiveCorp (NASDAQ:IAC) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,108 shares of the company’s stock after purchasing an additional 16,683 shares during the period. Kornitzer Capital Management Inc. KS owned 0.15% of IAC/InterActiveCorp worth $27,432,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in IAC. Geode Capital Management LLC grew its holdings in IAC/InterActiveCorp by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 732,502 shares of the company’s stock worth $133,985,000 after acquiring an additional 41,411 shares during the period. Landsberg Bennett & Dubbaneh LLC acquired a new position in IAC/InterActiveCorp during the 1st quarter worth $289,000. Tower View Investment Management & Research LLC grew its stake in IAC/InterActiveCorp by 53.1% during the 1st quarter. Tower View Investment Management & Research LLC now owns 4,915 shares of the company’s stock worth $1,033,000 after purchasing an additional 1,704 shares in the last quarter. Meeder Asset Management Inc. grew its stake in IAC/InterActiveCorp by 249.0% during the 1st quarter. Meeder Asset Management Inc. now owns 527 shares of the company’s stock worth $111,000 after purchasing an additional 376 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in IAC/InterActiveCorp by 1.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 13,800 shares of the company’s stock worth $2,900,000 after purchasing an additional 200 shares in the last quarter. 90.41% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Glenn Schiffman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $256.72, for a total value of $256,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 7,000 shares of company stock valued at $1,589,220 over the last three months. Company insiders own 11.50% of the company’s stock.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Wednesday, August 7th. The company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.27. IAC/InterActiveCorp had a return on equity of 12.76% and a net margin of 11.99%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $2.32 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that IAC/InterActiveCorp will post 4.8 EPS for the current fiscal year.
Several research analysts recently commented on the company. Jefferies Financial Group boosted their target price on IAC/InterActiveCorp from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday. JMP Securities cut IAC/InterActiveCorp from an “outperform” rating to a “market perform” rating and set a $228.02 target price for the company. in a research note on Monday, May 13th. Zacks Investment Research raised IAC/InterActiveCorp from a “hold” rating to a “strong-buy” rating and set a $272.00 target price for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on IAC/InterActiveCorp from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Finally, ValuEngine cut IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. IAC/InterActiveCorp currently has an average rating of “Buy” and an average target price of $287.37.
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.
Featured Story: Initial Public Offering (IPO)
Want to see what other hedge funds are holding IAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IAC/InterActiveCorp (NASDAQ:IAC).
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.