Penn Capital Management Co. Inc. trimmed its holdings in IAC/InterActiveCorp (NASDAQ:IAC) by 4.4% in the first quarter, Holdings Channel reports. The fund owned 6,982 shares of the company’s stock after selling 325 shares during the period. Penn Capital Management Co. Inc.’s holdings in IAC/InterActiveCorp were worth $4,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of IAC. Morgan Stanley lifted its stake in IAC/InterActiveCorp by 153.4% during the third quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock valued at $318,880,000 after buying an additional 890,730 shares in the last quarter. Norges Bank purchased a new stake in IAC/InterActiveCorp during the fourth quarter valued at about $152,540,000. BlackRock Inc. lifted its stake in IAC/InterActiveCorp by 16.8% during the fourth quarter. BlackRock Inc. now owns 5,259,290 shares of the company’s stock valued at $962,663,000 after buying an additional 756,555 shares in the last quarter. First Manhattan Co. lifted its stake in IAC/InterActiveCorp by 25.8% during the fourth quarter. First Manhattan Co. now owns 1,183,878 shares of the company’s stock valued at $216,697,000 after buying an additional 242,519 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in IAC/InterActiveCorp by 1,518.7% during the fourth quarter. Bank of Montreal Can now owns 186,852 shares of the company’s stock valued at $34,201,000 after buying an additional 175,309 shares in the last quarter. 88.59% of the stock is owned by institutional investors.

IAC stock opened at $231.20 on Thursday. The company has a quick ratio of 3.13, a current ratio of 3.12 and a debt-to-equity ratio of 0.65. The company has a market cap of $18.92 billion, a P/E ratio of 41.36, a P/E/G ratio of 2.57 and a beta of 1.09. IAC/InterActiveCorp has a 52 week low of $144.07 and a 52 week high of $242.86.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.40 by $0.51. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. IAC/InterActiveCorp had a net margin of 14.74% and a return on equity of 16.05%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. As a group, analysts anticipate that IAC/InterActiveCorp will post 4.29 earnings per share for the current year.

A number of research firms have commented on IAC. Benchmark reaffirmed a “buy” rating and set a $280.00 price objective (up from $260.00) on shares of IAC/InterActiveCorp in a research note on Friday, May 10th. UBS Group increased their price target on shares of IAC/InterActiveCorp from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Bank of America raised their price target on shares of IAC/InterActiveCorp from $273.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, May 10th. JPMorgan Chase & Co. raised their price target on shares of IAC/InterActiveCorp from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Finally, Zacks Investment Research upgraded shares of IAC/InterActiveCorp from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $257.77.

In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 3,000 shares of IAC/InterActiveCorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $224.98, for a total value of $674,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,000 shares of company stock valued at $1,749,740 over the last quarter. Corporate insiders own 10.90% of the company’s stock.

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IAC/InterActiveCorp Company Profile

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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Institutional Ownership by Quarter for IAC/InterActiveCorp (NASDAQ:IAC)

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