TD Asset Management Inc. raised its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 33.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 140,552 shares of the company’s stock after acquiring an additional 35,616 shares during the period. TD Asset Management Inc.’s holdings in IAC/InterActiveCorp were worth $25,727,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of IAC/InterActiveCorp by 3.1% during the third quarter. BlackRock Inc. now owns 4,502,735 shares of the company’s stock valued at $975,832,000 after acquiring an additional 134,915 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of IAC/InterActiveCorp by 5.9% during the third quarter. Canada Pension Plan Investment Board now owns 4,156,975 shares of the company’s stock valued at $900,900,000 after acquiring an additional 229,800 shares during the period. Morgan Stanley lifted its holdings in shares of IAC/InterActiveCorp by 153.4% during the third quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock valued at $318,880,000 after acquiring an additional 890,730 shares during the period. FMR LLC lifted its holdings in shares of IAC/InterActiveCorp by 118.6% during the third quarter. FMR LLC now owns 1,423,857 shares of the company’s stock valued at $308,578,000 after acquiring an additional 772,398 shares during the period. Finally, First Manhattan Co. lifted its holdings in shares of IAC/InterActiveCorp by 25.8% during the fourth quarter. First Manhattan Co. now owns 1,183,878 shares of the company’s stock valued at $216,697,000 after acquiring an additional 242,519 shares during the period. 86.75% of the stock is owned by institutional investors.
Shares of IAC stock opened at $215.96 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.77 and a quick ratio of 2.77. The stock has a market capitalization of $18.03 billion, a P/E ratio of 280.47, a PEG ratio of 2.24 and a beta of 1.14. IAC/InterActiveCorp has a 12 month low of $128.80 and a 12 month high of $223.54.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings data on Thursday, February 7th. The company reported $2.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $1.06. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. IAC/InterActiveCorp had a return on equity of 15.84% and a net margin of 11.39%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. Equities analysts anticipate that IAC/InterActiveCorp will post 5.62 earnings per share for the current fiscal year.
A number of research analysts have issued reports on IAC shares. BidaskClub cut IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Zacks Investment Research lowered IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. Wells Fargo & Co lowered their target price on IAC/InterActiveCorp from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Monday, November 12th. ValuEngine upgraded IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 29th. Finally, Aegis restated a “buy” rating and issued a $250.00 target price on shares of IAC/InterActiveCorp in a research note on Thursday, November 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $231.51.
In related news, CFO Glenn Schiffman sold 1,000 shares of IAC/InterActiveCorp stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 4,000 shares of company stock valued at $796,530. Corporate insiders own 10.90% of the company’s stock.
IAC/InterActiveCorp Company Profile
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. It operates through Match Group, ANGI Homeservices, Video, Applications, and Publishing segments. The Match Group segment provides subscription dating products, which enable users to establish a profile and review the profiles of other users in 42 languages.
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