Man Group plc Boosts Stake in IAC/InterActiveCorp (IAC)
Man Group plc boosted its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,591 shares of the company’s stock after acquiring an additional 414 shares during the quarter. Man Group plc’s holdings in IAC/InterActiveCorp were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of IAC. FMR LLC boosted its holdings in IAC/InterActiveCorp by 118.6% during the 3rd 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. Millennium Management LLC boosted its holdings in IAC/InterActiveCorp by 86.6% during the 2nd quarter. Millennium Management LLC now owns 857,052 shares of the company’s stock valued at $130,692,000 after acquiring an additional 397,788 shares during the period. Eagle Asset Management Inc. boosted its holdings in IAC/InterActiveCorp by 1,349.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 364,843 shares of the company’s stock valued at $79,068,000 after acquiring an additional 339,668 shares during the period. Canada Pension Plan Investment Board boosted its holdings in IAC/InterActiveCorp by 5.9% during the 3rd 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. Finally, Renaissance Technologies LLC lifted its holdings in IAC/InterActiveCorp by 347.6% in the 3rd quarter. Renaissance Technologies LLC now owns 242,727 shares of the company’s stock worth $52,604,000 after buying an additional 188,500 shares during the period. Institutional investors own 86.99% of the company’s stock.
In related news, CFO Glenn Schiffman sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $178.91, for a total transaction of $178,910.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.90% of the stock is owned by company insiders.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its earnings results on Wednesday, November 7th. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.46. IAC/InterActiveCorp had a return on equity of 15.84% and a net margin of 11.39%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $0.55 EPS. The business’s revenue was up 33.3% compared to the same quarter last year. Equities research analysts forecast that IAC/InterActiveCorp will post 5.58 EPS for the current year.
IAC has been the subject of several research analyst reports. Zacks Investment Research upgraded IAC/InterActiveCorp from a “hold” rating to a “buy” rating and set a $239.00 price objective for the company in a report on Wednesday, September 26th. UBS Group increased their price objective on IAC/InterActiveCorp from $224.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. BidaskClub cut IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 22nd. Nomura initiated coverage on IAC/InterActiveCorp in a report on Thursday, October 11th. They issued a “buy” rating and a $246.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and issued a $260.00 price objective (up previously from $204.00) on shares of IAC/InterActiveCorp in a report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $229.09.
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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