Cambridge Investment Research Advisors Inc. Decreases Stock Holdings in IAC/InterActiveCorp (NASDAQ:IAC)

Cambridge Investment Research Advisors Inc. reduced its holdings in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,534 shares of the company’s stock after selling 293 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in IAC/InterActiveCorp were worth $330,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its holdings in IAC/InterActiveCorp by 10.2% during the second quarter. Invesco Ltd. now owns 216,329 shares of the company’s stock valued at $33,351,000 after buying an additional 20,079 shares during the last quarter. SG Americas Securities LLC increased its holdings in IAC/InterActiveCorp by 904.1% during the second quarter. SG Americas Securities LLC now owns 21,328 shares of the company’s stock valued at $3,288,000 after buying an additional 19,204 shares during the last quarter. Accuvest Global Advisors purchased a new stake in IAC/InterActiveCorp during the second quarter valued at approximately $2,587,000. Parkside Investments LLC boosted its position in shares of IAC/InterActiveCorp by 30.2% in the third quarter. Parkside Investments LLC now owns 46,968 shares of the company’s stock worth $6,119,000 after purchasing an additional 10,885 shares during the period. Finally, Pallas Capital Advisors LLC boosted its position in shares of IAC/InterActiveCorp by 29.4% in the second quarter. Pallas Capital Advisors LLC now owns 7,125 shares of the company’s stock worth $957,000 after purchasing an additional 1,618 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

IAC has been the subject of a number of recent analyst reports. Credit Suisse Group upped their price target on shares of IAC/InterActiveCorp from $155.00 to $161.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. JPMorgan Chase & Co. initiated coverage on shares of IAC/InterActiveCorp in a research report on Monday, January 3rd. They issued a “buy” rating and a $175.00 price target for the company. Truist Securities upped their price target on shares of IAC/InterActiveCorp from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 8th. Benchmark upped their price target on shares of IAC/InterActiveCorp from $200.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, October 7th. Finally, KeyCorp dropped their price target on shares of IAC/InterActiveCorp from $189.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, November 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $200.13.

IAC/InterActiveCorp stock opened at $131.38 on Friday. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 11.21 and a beta of 1.37. The firm’s fifty day moving average is $131.46 and its 200 day moving average is $136.01. IAC/InterActiveCorp has a 52-week low of $119.20 and a 52-week high of $179.12.

IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings results on Thursday, November 4th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $1.07. The business had revenue of $924.10 million for the quarter, compared to analysts’ expectations of $864.37 million. IAC/InterActiveCorp’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.63) EPS. As a group, sell-side analysts anticipate that IAC/InterActiveCorp will post -1.98 EPS for the current year.

About IAC/InterActiveCorp

IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.

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

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