Pinnacle Associates Ltd. Sells 26,617 Shares of IAC/InterActiveCorp (IAC)
Pinnacle Associates Ltd. decreased its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 496,129 shares of the company’s stock after selling 26,617 shares during the period. Pinnacle Associates Ltd. owned 0.64% of IAC/InterActiveCorp worth $36,575,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of IAC. Creative Planning raised its position in IAC/InterActiveCorp by 0.6% in the first quarter. Creative Planning now owns 1,687 shares of the company’s stock valued at $124,000 after buying an additional 10 shares in the last quarter. Sowell Financial Services LLC purchased a new position in IAC/InterActiveCorp during the fourth quarter valued at about $162,000. Ladenburg Thalmann Financial Services Inc. raised its position in IAC/InterActiveCorp by 0.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,670 shares of the company’s stock valued at $177,000 after buying an additional 25 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of IAC/InterActiveCorp during the first quarter worth $201,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of IAC/InterActiveCorp during the first quarter worth $221,000. 84.37% of the stock is currently owned by institutional investors.
IAC/InterActiveCorp (NASDAQ:IAC) traded up 0.48% during mid-day trading on Friday, hitting $101.44. 701,098 shares of the stock traded hands. The firm’s 50-day moving average is $101.81 and its 200-day moving average is $79.60. IAC/InterActiveCorp has a 12-month low of $52.23 and a 12-month high of $107.98. The company’s market cap is $7.98 billion.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of $760.80 million for the quarter, compared to analysts’ expectations of $718.31 million. IAC/InterActiveCorp had a positive return on equity of 8.43% and a negative net margin of 0.76%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. Equities research analysts expect that IAC/InterActiveCorp will post $3.05 EPS for the current year.
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A number of brokerages have recently weighed in on IAC. Zacks Investment Research raised shares of IAC/InterActiveCorp from a “strong sell” rating to a “hold” rating in a report on Thursday, April 20th. Guggenheim upgraded shares of IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Friday, May 5th. Cowen and Company restated an “outperform” rating and set a $90.00 target price on shares of IAC/InterActiveCorp in a research report on Monday, April 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $85.00 price objective on shares of IAC/InterActiveCorp in a research report on Monday, April 10th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $133.00 price objective on shares of IAC/InterActiveCorp in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $96.95.
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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