Franklin Resources Inc. grew its position in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 0.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 301,280 shares of the company’s stock after buying an additional 830 shares during the quarter. Franklin Resources Inc.’s holdings in IAC/InterActiveCorp were worth $65,293,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of IAC/InterActiveCorp in the 3rd quarter worth approximately $206,000. Pictet Asset Management Ltd. grew its stake in IAC/InterActiveCorp by 11.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 434,827 shares of the company’s stock valued at $94,236,000 after buying an additional 44,839 shares in the last quarter. Carillon Tower Advisers Inc. grew its stake in IAC/InterActiveCorp by 212.9% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 264,518 shares of the company’s stock valued at $57,326,000 after buying an additional 179,968 shares in the last quarter. Korea Investment CORP grew its stake in IAC/InterActiveCorp by 521.6% in the 3rd quarter. Korea Investment CORP now owns 127,000 shares of the company’s stock valued at $27,523,000 after buying an additional 106,569 shares in the last quarter. Finally, Credit Suisse AG grew its stake in IAC/InterActiveCorp by 18.4% in the 3rd quarter. Credit Suisse AG now owns 103,603 shares of the company’s stock valued at $22,453,000 after buying an additional 16,089 shares in the last quarter. 87.04% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Glenn Schiffman sold 2,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $199.05, for a total transaction of $398,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is owned by insiders.
IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings results on Wednesday, November 7th. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.46. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. IAC/InterActiveCorp had a net margin of 11.39% and a return on equity of 15.84%. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 EPS. Sell-side analysts forecast that IAC/InterActiveCorp will post 5.55 EPS for the current fiscal year.
A number of research firms recently weighed in on IAC. Barclays lifted their price objective on shares of IAC/InterActiveCorp to $244.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Credit Suisse Group lifted their price objective on shares of IAC/InterActiveCorp from $183.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. ValuEngine upgraded shares of IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. BidaskClub upgraded shares of IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $250.00 price objective (up from $216.00) on shares of IAC/InterActiveCorp in a research note on Thursday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $225.98.
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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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