Mackay Shields LLC trimmed its holdings in IAC/InterActiveCorp (NASDAQ:IAC) by 41.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 44,319 shares of the company’s stock after selling 31,794 shares during the quarter. Mackay Shields LLC owned 0.05% of IAC/InterActiveCorp worth $9,660,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen Asset Management LLC raised its holdings in IAC/InterActiveCorp by 1,446.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,086,359 shares of the company’s stock valued at $671,375,000 after buying an additional 2,886,801 shares during the last quarter. BlackRock Inc. raised its holdings in IAC/InterActiveCorp by 10.6% in the 2nd quarter. BlackRock Inc. now owns 6,418,237 shares of the company’s stock worth $1,396,160,000 after purchasing an additional 615,478 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in IAC/InterActiveCorp by 4.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,458,468 shares of the company’s stock worth $2,927,621,000 after purchasing an additional 533,168 shares in the last quarter. Bank of America Corp DE raised its holdings in IAC/InterActiveCorp by 145.8% in the 2nd quarter. Bank of America Corp DE now owns 850,163 shares of the company’s stock worth $184,936,000 after purchasing an additional 504,269 shares in the last quarter. Finally, Luxor Capital Group LP raised its holdings in IAC/InterActiveCorp by 110.1% in the 2nd quarter. Luxor Capital Group LP now owns 921,683 shares of the company’s stock worth $200,494,000 after purchasing an additional 483,020 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.
IAC traded down $0.55 during midday trading on Friday, hitting $220.19. 9,116 shares of the company traded hands, compared to its average volume of 791,754. The company’s 50-day moving average is $225.04 and its 200 day moving average is $231.82. IAC/InterActiveCorp has a 52 week low of $158.29 and a 52 week high of $268.72. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $18.72 billion, a PE ratio of 39.28 and a beta of 0.90.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.33. IAC/InterActiveCorp had a net margin of 11.99% and a return on equity of 12.44%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned $1.49 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts predict that IAC/InterActiveCorp will post 4.44 earnings per share for the current fiscal year.
In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $228.37, for a total transaction of $228,370.00. Also, EVP Mark J. Stein sold 38,993 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $254.77, for a total transaction of $9,934,246.61. Following the sale, the executive vice president now owns 111,451 shares in the company, valued at approximately $28,394,371.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,402 shares of company stock worth $29,975,254. 11.50% of the stock is owned by company insiders.
IAC has been the topic of a number of recent research reports. Deutsche Bank reduced their target price on shares of IAC/InterActiveCorp from $279.00 to $256.00 and set a “buy” rating on the stock in a research report on Friday. UBS Group reduced their target price on shares of IAC/InterActiveCorp from $300.00 to $296.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Citigroup initiated coverage on shares of IAC/InterActiveCorp in a research report on Tuesday, September 17th. They issued a “buy” rating and a $290.00 target price on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of IAC/InterActiveCorp in a research report on Friday, August 9th. Finally, ValuEngine raised shares of IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the stock. IAC/InterActiveCorp currently has an average rating of “Buy” and an average price target of $288.35.
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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