IAC/InterActiveCorp (IAC) Stake Lessened by Raymond James & Associates

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Raymond James & Associates cut its holdings in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,793 shares of the company’s stock after selling 11,194 shares during the period. Raymond James & Associates’ holdings in IAC/InterActiveCorp were worth $6,552,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of IAC/InterActiveCorp by 16.8% during the fourth quarter. BlackRock Inc. now owns 5,259,290 shares of the company’s stock worth $962,663,000 after purchasing an additional 756,555 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of IAC/InterActiveCorp by 5.9% during the third quarter. Canada Pension Plan Investment Board now owns 4,156,975 shares of the company’s stock worth $900,900,000 after purchasing an additional 229,800 shares in the last quarter. Morgan Stanley increased its position in shares of IAC/InterActiveCorp by 153.4% during the third quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock worth $318,880,000 after purchasing an additional 890,730 shares in the last quarter. FMR LLC increased its position in shares of IAC/InterActiveCorp by 118.6% in the 3rd 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. increased its position in shares of IAC/InterActiveCorp by 25.8% in the 4th 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. 88.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of IAC opened at $207.69 on Friday. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 37.15, a P/E/G ratio of 2.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.13 and a current ratio of 3.13. IAC/InterActiveCorp has a fifty-two week low of $128.80 and a fifty-two week high of $223.98.

IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings results on Thursday, February 7th. The company reported $2.04 earnings per share 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 the consensus estimate of $1.07 billion. IAC/InterActiveCorp had a return on equity of 16.11% and a net margin of 14.71%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. On average, analysts expect that IAC/InterActiveCorp will post 4.5 EPS for the current year.

In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of the stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David S. Rosenblatt sold 4,528 shares of the stock in a transaction dated Tuesday, February 12th. The stock was 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. Insiders have sold a total of 10,528 shares of company stock worth $2,222,948 over the last ninety days. 10.90% of the stock is owned by insiders.

Several research firms recently issued reports on IAC. Zacks Investment Research raised IAC/InterActiveCorp from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. BMO Capital Markets upped their target price on IAC/InterActiveCorp from $287.00 to $291.00 and gave the company an “outperform” rating in a research report on Monday, February 11th. Jefferies Financial Group upped their target price on IAC/InterActiveCorp to $260.00 in a research report on Monday, February 11th. Nomura upped their target price on IAC/InterActiveCorp from $206.00 to $239.00 and gave the company a “buy” rating in a research report on Monday, February 11th. Finally, Oppenheimer upped their target price on IAC/InterActiveCorp from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, February 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. IAC/InterActiveCorp has an average rating of “Buy” and an average target price of $235.54.

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About IAC/InterActiveCorp

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.

Further Reading: Certificate of Deposit (CD)

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Institutional Ownership by Quarter for IAC/InterActiveCorp (NASDAQ:IAC)

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