Point72 Asset Management L.P. Increases Stock Holdings in IAC/InterActiveCorp (NASDAQ:IAC)
Point72 Asset Management L.P. raised its position in IAC/InterActiveCorp (NASDAQ:IAC) by 21.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,759 shares of the company’s stock after acquiring an additional 11,900 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.08% of IAC/InterActiveCorp worth $16,630,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Farallon Capital Management LLC increased its stake in shares of IAC/InterActiveCorp by 41.8% during the fourth quarter. Farallon Capital Management LLC now owns 2,066,500 shares of the company’s stock worth $514,786,000 after buying an additional 609,000 shares during the period. Luxor Capital Group LP grew its holdings in IAC/InterActiveCorp by 52.7% during the 3rd quarter. Luxor Capital Group LP now owns 1,407,001 shares of the company’s stock worth $306,684,000 after acquiring an additional 485,318 shares in the last quarter. Bank of America Corp DE increased its position in shares of IAC/InterActiveCorp by 38.2% in the 4th quarter. Bank of America Corp DE now owns 1,743,248 shares of the company’s stock valued at $434,260,000 after purchasing an additional 481,870 shares during the last quarter. Millennium Management LLC increased its position in shares of IAC/InterActiveCorp by 2,472.1% in the 3rd quarter. Millennium Management LLC now owns 257,444 shares of the company’s stock valued at $56,115,000 after purchasing an additional 247,435 shares during the last quarter. Finally, Laurion Capital Management LP increased its position in shares of IAC/InterActiveCorp by 142.8% in the 4th quarter. Laurion Capital Management LP now owns 378,900 shares of the company’s stock valued at $94,388,000 after purchasing an additional 222,861 shares during the last quarter. 90.64% of the stock is owned by institutional investors.
NASDAQ IAC traded up $3.51 on Thursday, reaching $180.24. The stock had a trading volume of 1,588,469 shares, compared to its average volume of 1,174,361. The stock has a market cap of $13.52 billion, a P/E ratio of 40.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01. IAC/InterActiveCorp has a 12-month low of $124.60 and a 12-month high of $278.85. The business’s 50-day moving average price is $202.83 and its 200 day moving average price is $226.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.68 and a current ratio of 3.68.
In related news, CFO Glenn Schiffman sold 1,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $275.00, for a total value of $275,000.00. Following the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $275,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 8,000 shares of company stock worth $2,017,360. 11.50% of the stock is currently owned by company insiders.
Several research firms have recently issued reports on IAC. Aegis reaffirmed a “buy” rating and set a $313.00 price objective on shares of IAC/InterActiveCorp in a research report on Friday, December 20th. Wedbush dropped their target price on IAC/InterActiveCorp from $295.00 to $283.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Barclays restated a “buy” rating on shares of IAC/InterActiveCorp in a research note on Friday, February 7th. Guggenheim restated a “buy” rating on shares of IAC/InterActiveCorp in a research note on Wednesday, January 8th. Finally, Oppenheimer lifted their price target on IAC/InterActiveCorp from to and gave the stock an “outperform” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $288.65.
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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