IAC/InterActiveCorp (IAC) Stake Lowered by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. lowered its position in IAC/InterActiveCorp (NASDAQ:IAC) by 34.4% during the second quarter, Holdings Channel reports. The institutional investor owned 244,532 shares of the company’s stock after selling 128,494 shares during the period. Pictet Asset Management Ltd.’s holdings in IAC/InterActiveCorp were worth $26,004,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in IAC. Creative Planning boosted its position in IAC/InterActiveCorp by 0.6% in the first quarter. Creative Planning now owns 1,687 shares of the company’s stock worth $124,000 after buying an additional 10 shares in the last quarter. Engineers Gate Manager LP purchased a new position in IAC/InterActiveCorp during the first quarter worth approximately $201,000. Virtu Financial LLC purchased a new position in IAC/InterActiveCorp during the second quarter worth approximately $201,000. Reliance Trust Co. of Delaware purchased a new position in IAC/InterActiveCorp during the second quarter worth approximately $202,000. Finally, Fic Capital Inc. purchased a new position in IAC/InterActiveCorp during the first quarter worth approximately $205,000. 85.22% of the stock is owned by hedge funds and other institutional investors.
Shares of IAC/InterActiveCorp (NASDAQ IAC) opened at 101.04 on Friday. IAC/InterActiveCorp has a 12-month low of $56.41 and a 12-month high of $114.72. The stock has a 50 day moving average of $105.24 and a 200 day moving average of $89.60. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 36.11 and a beta of 1.14.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.24. IAC/InterActiveCorp had a net margin of 7.66% and a return on equity of 9.16%. The business had revenue of $767.39 million during the quarter, compared to analyst estimates of $758.01 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts forecast that IAC/InterActiveCorp will post $3.06 earnings per share for the current year.
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IAC has been the subject of a number of recent analyst reports. Jefferies Group LLC dropped their price target on shares of IAC/InterActiveCorp from $85.00 to $82.00 in a research note on Wednesday, April 19th. TheStreet raised shares of IAC/InterActiveCorp from a “c+” rating to an “a-” rating in a research note on Thursday, August 3rd. UBS AG reaffirmed a “buy” rating and set a $115.00 price target (up from $84.00) on shares of IAC/InterActiveCorp in a research note on Friday, May 5th. Guggenheim raised shares of IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Friday, May 5th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of IAC/InterActiveCorp in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. IAC/InterActiveCorp has a consensus rating of “Buy” and an average target price of $107.20.
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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