Graham Capital Management L.P. bought a new position in IAC/InterActiveCorp (NASDAQ:IAC) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 18,500 shares of the company’s stock, valued at approximately $2,175,000.
Other large investors have also modified their holdings of the company. ClariVest Asset Management LLC bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth $133,000. FNY Partners Fund LP bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth $152,000. First Mercantile Trust Co. bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth $193,000. Piedmont Investment Advisors LLC bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth $205,000. Finally, Timber Hill LLC bought a new stake in IAC/InterActiveCorp in the 3rd quarter worth $208,000. Institutional investors own 86.74% of the company’s stock.
In related news, Director David S. Rosenblatt sold 6,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $133.00, for a total transaction of $798,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph Levin sold 78,500 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $128.83, for a total transaction of $10,113,155.00. The disclosure for this sale can be found here. Insiders own 11.30% of the company’s stock.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.14). The company had revenue of $828.40 million for the quarter, compared to the consensus estimate of $810.36 million. IAC/InterActiveCorp had a net margin of 11.81% and a return on equity of 4.26%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. sell-side analysts forecast that IAC/InterActiveCorp will post 0.55 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Evercore ISI assumed coverage on shares of IAC/InterActiveCorp in a report on Tuesday. They issued an “outperform” rating on the stock. Piper Jaffray Companies raised their price target on shares of IAC/InterActiveCorp to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Aegis reissued a “buy” rating and issued a $125.00 price target (up previously from $115.00) on shares of IAC/InterActiveCorp in a report on Tuesday, August 15th. Citigroup set a $150.00 price target on shares of IAC/InterActiveCorp and gave the stock a “buy” rating in a report on Friday, November 10th. Finally, Needham & Company LLC raised their price target on shares of IAC/InterActiveCorp from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $141.40.
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IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.
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