Candriam Luxembourg S.C.A. lessened its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 87.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,818 shares of the company’s stock after selling 32,612 shares during the period. Candriam Luxembourg S.C.A.’s holdings in IAC/InterActiveCorp were worth $1,012,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Morgan Stanley boosted its stake in shares of IAC/InterActiveCorp by 153.4% in the third quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock worth $318,880,000 after acquiring an additional 890,730 shares during the period. Norges Bank bought a new position in shares of IAC/InterActiveCorp in the fourth quarter worth about $152,540,000. BlackRock Inc. boosted its stake in shares of IAC/InterActiveCorp by 16.8% in the fourth quarter. BlackRock Inc. now owns 5,259,290 shares of the company’s stock worth $962,663,000 after acquiring an additional 756,555 shares during the period. First Manhattan Co. boosted its stake in shares of IAC/InterActiveCorp by 25.8% in the fourth quarter. First Manhattan Co. now owns 1,183,878 shares of the company’s stock worth $216,697,000 after acquiring an additional 242,519 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of IAC/InterActiveCorp by 1,518.7% in the fourth quarter. Bank of Montreal Can now owns 186,852 shares of the company’s stock worth $34,201,000 after acquiring an additional 175,309 shares during the period. 88.59% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Glenn Schiffman sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $213.68, for a total transaction of $427,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 8,000 shares of company stock valued at $1,749,740. 10.90% of the stock is owned by corporate insiders.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.51. IAC/InterActiveCorp had a return on equity of 16.05% and a net margin of 14.74%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. Research analysts predict that IAC/InterActiveCorp will post 4.29 earnings per share for the current year.
IAC has been the subject of a number of recent analyst reports. BidaskClub raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. ValuEngine raised IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 29th. 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 for the company. JPMorgan Chase & Co. upped their price objective on IAC/InterActiveCorp to $250.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Finally, Nomura upped their price objective on IAC/InterActiveCorp from $206.00 to $239.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. IAC/InterActiveCorp currently has an average rating of “Buy” and an average price target of $257.77.
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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