North Peak Capital Management LLC lessened its holdings in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 23.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,557 shares of the company’s stock after selling 32,486 shares during the quarter. IAC/InterActiveCorp comprises 12.9% of North Peak Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. North Peak Capital Management LLC owned about 0.13% of IAC/InterActiveCorp worth $22,962,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of IAC. Next Capital Management LLC bought a new stake in IAC/InterActiveCorp during the second quarter worth about $28,000. Valeo Financial Advisors LLC bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth approximately $29,000. Icon Wealth Partners LLC purchased a new stake in IAC/InterActiveCorp in the first quarter worth approximately $32,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in IAC/InterActiveCorp by 78.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock worth $42,000 after buying an additional 85 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in IAC/InterActiveCorp in the first quarter worth approximately $56,000. 89.88% of the stock is owned by institutional investors.
IAC has been the topic of several research reports. ValuEngine downgraded shares of IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of IAC/InterActiveCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th. BMO Capital Markets lifted their target price on shares of IAC/InterActiveCorp from $319.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. BidaskClub downgraded shares of IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Co restated a “buy” rating on shares of IAC/InterActiveCorp in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $288.42.
IAC traded down $1.66 during midday trading on Wednesday, reaching $229.26. 347,498 shares of the company’s stock traded hands, compared to its average volume of 809,306. The firm has a fifty day moving average of $247.46 and a two-hundred day moving average of $228.24. The stock has a market capitalization of $19.50 billion, a price-to-earnings ratio of 41.01 and a beta of 0.94. 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 has a 52 week low of $158.29 and a 52 week high of $268.72.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. IAC/InterActiveCorp had a return on equity of 12.44% and a net margin of 11.99%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $2.32 EPS. Sell-side analysts forecast that IAC/InterActiveCorp will post 4.4 EPS for the current year.
In other IAC/InterActiveCorp news, SVP Michael H. Schwerdtman sold 6,676 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $255.55, for a total transaction of $1,706,051.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Glenn Schiffman sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $225.00, for a total value of $225,000.00. The disclosure for this sale can be found here. Insiders sold 185,781 shares of company stock valued at $46,309,265 in the last ninety days. 11.50% of the stock is currently owned by insiders.
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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