IAC/InterActiveCorp (NASDAQ:IAC) – Research analysts at Oppenheimer decreased their Q4 2019 EPS estimates for shares of IAC/InterActiveCorp in a research note issued on Sunday, November 10th. Oppenheimer analyst J. Helfstein now expects that the company will post earnings per share of $0.73 for the quarter, down from their previous forecast of $0.84. Oppenheimer also issued estimates for IAC/InterActiveCorp’s FY2020 earnings at $3.92 EPS.
A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. lowered IAC/InterActiveCorp from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $300.00 to $245.00 in a report on Friday, November 8th. They noted that the move was a valuation call. BMO Capital Markets lowered their price target on IAC/InterActiveCorp from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday. Citigroup began coverage on IAC/InterActiveCorp in a report on Tuesday, September 17th. They set a “buy” rating and a $290.00 price target on the stock. Nomura lowered their price target on IAC/InterActiveCorp from $314.00 to $285.00 and set a “buy” rating on the stock in a report on Monday. Finally, ValuEngine raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $277.85.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Wednesday, November 6th. The company reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.33. IAC/InterActiveCorp had a return on equity of 11.69% and a net margin of 11.25%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the firm earned $1.49 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year.
In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of IAC/InterActiveCorp stock in a transaction that occurred on Monday, October 7th. The stock was 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 IAC/InterActiveCorp stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $253.54, for a total value of $18,612,117.86. Following the completion of the sale, the executive vice president now directly owns 206,342 shares in the company, valued at approximately $52,315,950.68. The disclosure for this sale can be found here. Insiders sold a total of 118,402 shares of company stock worth $29,975,254 in the last ninety days. 11.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in IAC. Next Capital Management LLC purchased a new stake in shares of IAC/InterActiveCorp during the 2nd quarter worth approximately $28,000. Valeo Financial Advisors LLC purchased a new stake in shares of IAC/InterActiveCorp during the 2nd quarter worth approximately $29,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of IAC/InterActiveCorp by 78.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock worth $42,000 after acquiring an additional 85 shares in the last quarter. Maj Invest Holding A S purchased a new stake in shares of IAC/InterActiveCorp during the 3rd quarter worth approximately $63,000. Finally, Assetmark Inc. boosted its stake in shares of IAC/InterActiveCorp by 119.1% during the 2nd quarter. Assetmark Inc. now owns 298 shares of the company’s stock worth $65,000 after acquiring an additional 162 shares in the last quarter. 89.51% of the stock is currently owned by institutional investors.
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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