Traders Buy IAC/InterActiveCorp (IAC) on Weakness on Insider Selling

Traders purchased shares of IAC/InterActiveCorp (NASDAQ:IAC) on weakness during trading on Thursday following insider selling activity. $62.60 million flowed into the stock on the tick-up and $13.17 million flowed out of the stock on the tick-down, for a money net flow of $49.43 million into the stock. Of all stocks tracked, IAC/InterActiveCorp had the 20th highest net in-flow for the day. IAC/InterActiveCorp traded down ($0.10) for the day and closed at $229.85Specifically, CFO Glenn Schiffman sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $208.81, for a total transaction of $417,620.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Rosenblatt sold 4,528 shares of the firm’s 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 11,528 shares of company stock valued at $2,491,478 over the last ninety days. Company insiders own 10.90% of the company’s stock.

IAC has been the topic of a number of recent analyst reports. BidaskClub raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. ValuEngine downgraded IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Aegis reissued a “buy” rating and issued a $300.00 price objective (up from $250.00) on shares of IAC/InterActiveCorp in a research note on Wednesday, March 20th. Jefferies Financial Group raised their price objective on IAC/InterActiveCorp to $260.00 in a research note on Monday, February 11th. Finally, Goldman Sachs Group initiated coverage on IAC/InterActiveCorp in a research note on Monday, February 4th. They issued a “neutral” rating and a $226.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $241.35.

The firm has a market cap of $19.26 billion, a PE ratio of 40.96, a P/E/G ratio of 2.66 and a beta of 1.08. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.63.

IAC/InterActiveCorp (NASDAQ:IAC) last released its earnings results on Thursday, February 7th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $1.05. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. IAC/InterActiveCorp had a return on equity of 16.11% and a net margin of 14.71%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. As a group, equities research analysts predict that IAC/InterActiveCorp will post 4.22 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IAC. Csenge Advisory Group acquired a new stake in shares of IAC/InterActiveCorp during the 3rd quarter worth approximately $29,000. Lindbrook Capital LLC acquired a new stake in shares of IAC/InterActiveCorp during the 4th quarter worth approximately $34,000. Quantamental Technologies LLC acquired a new stake in shares of IAC/InterActiveCorp during the 4th quarter worth approximately $43,000. Winslow Evans & Crocker Inc. grew its holdings in shares of IAC/InterActiveCorp by 40.3% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock worth $48,000 after purchasing an additional 62 shares in the last quarter. Finally, Athena Capital Advisors LLC acquired a new stake in shares of IAC/InterActiveCorp during the 4th quarter worth approximately $64,000. 89.38% of the stock is currently owned by hedge funds and other institutional investors.

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About IAC/InterActiveCorp (NASDAQ:IAC)

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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