Artisan Partners Limited Partnership lessened its stake in IAC/InterActiveCorp (NASDAQ:IAC) by 28.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,372,109 shares of the company’s stock after selling 541,844 shares during the period. Artisan Partners Limited Partnership owned approximately 1.74% of IAC/InterActiveCorp worth $141,657,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth $133,000. FNY Partners Fund LP purchased a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth $152,000. First Mercantile Trust Co. purchased a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth $193,000. Engineers Gate Manager LP purchased a new position in shares of IAC/InterActiveCorp during the 1st quarter worth $201,000. Finally, Virtu Financial LLC purchased a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth $201,000. 85.19% of the stock is owned by institutional investors and hedge funds.
Shares of IAC/InterActiveCorp (IAC) traded up 0.100% during mid-day trading on Tuesday, reaching $114.735. 44,777 shares of the company’s stock traded hands. The company has a market cap of $9.15 billion, a P/E ratio of 41.006 and a beta of 1.13. The company’s 50 day moving average is $108.50 and its 200 day moving average is $96.60. IAC/InterActiveCorp has a 12-month low of $59.10 and a 12-month high of $119.53.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.24. The business had revenue of $767.39 million for the quarter, compared to the consensus estimate of $758.01 million. IAC/InterActiveCorp had a net margin of 7.66% and a return on equity of 9.16%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. On average, analysts predict that IAC/InterActiveCorp will post $3.07 EPS for the current fiscal year.
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Several research analysts have recently weighed in on IAC shares. Piper Jaffray Companies reiterated an “overweight” rating and set a $130.00 price target (up previously from $111.00) on shares of IAC/InterActiveCorp in a research note on Sunday, May 28th. Bank of America Corporation reiterated a “buy” rating and set a $133.00 price target on shares of IAC/InterActiveCorp in a research note on Wednesday, June 14th. Cowen and Company reiterated a “buy” rating and set a $115.00 price target on shares of IAC/InterActiveCorp in a research note on Sunday, July 30th. Aegis reiterated a “buy” rating and set a $115.00 price target on shares of IAC/InterActiveCorp in a research note on Thursday, August 3rd. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of IAC/InterActiveCorp in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $108.95.
IAC/InterActiveCorp Company Profile
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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