Alpine Group USVI LLC Purchases New Position in IAC/InterActiveCorp (NASDAQ:IAC)

Alpine Group USVI LLC purchased a new stake in IAC/InterActiveCorp (NASDAQ:IAC) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 33,060 shares of the company’s stock, valued at approximately $7,206,000. IAC/InterActiveCorp makes up about 1.8% of Alpine Group USVI LLC’s investment portfolio, making the stock its 12th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arden Trust Co acquired a new stake in shares of IAC/InterActiveCorp during the second quarter valued at about $255,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of IAC/InterActiveCorp by 1.1% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,389 shares of the company’s stock valued at $6,175,000 after acquiring an additional 300 shares in the last quarter. FMR LLC grew its stake in shares of IAC/InterActiveCorp by 7.7% during the first quarter. FMR LLC now owns 528,661 shares of the company’s stock valued at $111,077,000 after acquiring an additional 37,868 shares in the last quarter. Insight Wealth Strategies LLC acquired a new stake in shares of IAC/InterActiveCorp during the second quarter valued at about $512,000. Finally, Amundi Pioneer Asset Management Inc. grew its stake in shares of IAC/InterActiveCorp by 22.1% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 278,799 shares of the company’s stock valued at $60,648,000 after acquiring an additional 50,532 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

NASDAQ:IAC traded up $1.96 during mid-day trading on Friday, reaching $227.03. The stock had a trading volume of 2,174,862 shares, compared to its average volume of 933,070. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 40.61 and a beta of 0.90. IAC/InterActiveCorp has a 1-year low of $158.29 and a 1-year high of $268.72. The stock’s 50 day simple moving average is $236.29 and its two-hundred day simple moving average is $230.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.11 and a quick ratio of 4.11.



IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. IAC/InterActiveCorp had a return on equity of 12.44% and a net margin of 11.99%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $2.32 earnings per share. Sell-side analysts anticipate that IAC/InterActiveCorp will post 4.4 EPS for the current fiscal year.

In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $217.37, for a total value of $434,740.00. Also, SVP Michael H. Schwerdtman sold 6,676 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $255.55, for a total transaction of $1,706,051.80. The disclosure for this sale can be found here. Insiders sold 184,781 shares of company stock valued at $46,077,625 over the last quarter. Insiders own 11.50% of the company’s stock.

Several analysts have recently weighed in on IAC shares. Benchmark raised their target price on IAC/InterActiveCorp from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine downgraded IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub upgraded IAC/InterActiveCorp from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. SunTrust Banks raised their target price on IAC/InterActiveCorp from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group raised their target price on IAC/InterActiveCorp from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $288.69.

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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