IFM Investors Pty Ltd lifted its holdings in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 64.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,617 shares of the company’s stock after buying an additional 3,366 shares during the period. IFM Investors Pty Ltd’s holdings in IAC/InterActiveCorp were worth $1,878,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Next Capital Management LLC bought a new stake in shares of IAC/InterActiveCorp during the 2nd quarter valued at about $28,000. Valeo Financial Advisors LLC bought a new position in IAC/InterActiveCorp in the 2nd quarter worth about $29,000. Harel Insurance Investments & Financial Services Ltd. grew its position in IAC/InterActiveCorp by 78.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock worth $42,000 after purchasing an additional 85 shares during the last quarter. Assetmark Inc. grew its position in IAC/InterActiveCorp by 119.1% in the 2nd quarter. Assetmark Inc. now owns 298 shares of the company’s stock worth $65,000 after purchasing an additional 162 shares during the last quarter. Finally, NEXT Financial Group Inc grew its position in IAC/InterActiveCorp by 152.0% in the 2nd quarter. NEXT Financial Group Inc now owns 315 shares of the company’s stock worth $69,000 after purchasing an additional 190 shares during the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.
IAC stock traded down $1.15 on Friday, hitting $219.59. 6,462 shares of the company’s stock traded hands, compared to its average volume of 791,754. IAC/InterActiveCorp has a 1-year low of $158.29 and a 1-year high of $268.72. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 39.22 and a beta of 0.90. The stock has a fifty day moving average of $225.04 and a 200-day moving average of $231.82. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.82.
Several research analysts have commented on IAC shares. Benchmark restated a “buy” rating and issued a $285.00 target price (down previously from $300.00) on shares of IAC/InterActiveCorp in a research report on Friday. Guggenheim upgraded shares of IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. cut shares of IAC/InterActiveCorp from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $300.00 to $245.00 in a research report on Friday. They noted that the move was a valuation call. ValuEngine upgraded shares of IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Co restated a “buy” rating on shares of IAC/InterActiveCorp in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the stock. IAC/InterActiveCorp presently has a consensus rating of “Buy” and an average price target of $288.35.
In related news, CFO Glenn Schiffman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $228.37, for a total value of $228,370.00. Also, EVP Gregg Winiarski sold 73,409 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $253.54, for a total transaction of $18,612,117.86. Following the completion of the sale, the executive vice president now owns 206,342 shares of the company’s stock, valued at approximately $52,315,950.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,402 shares of company stock valued at $29,975,254. Company insiders own 11.50% of the company’s stock.
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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