IAC/InterActiveCorp (IAC) Shares Sold by Kemnay Advisory Services Inc.
Kemnay Advisory Services Inc. cut its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 21.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,727 shares of the company’s stock after selling 2,386 shares during the quarter. IAC/InterActiveCorp accounts for about 0.6% of Kemnay Advisory Services Inc.’s holdings, making the stock its 21st biggest holding. Kemnay Advisory Services Inc.’s holdings in IAC/InterActiveCorp were worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. First Republic Investment Management Inc. bought a new stake in IAC/InterActiveCorp during the third quarter valued at approximately $335,000. Ibex Investors LLC bought a new stake in IAC/InterActiveCorp during the third quarter valued at approximately $214,000. Renaissance Technologies LLC lifted its position in IAC/InterActiveCorp by 347.6% during the third quarter. Renaissance Technologies LLC now owns 242,727 shares of the company’s stock valued at $52,604,000 after purchasing an additional 188,500 shares during the last quarter. People s United Financial Inc. lifted its position in IAC/InterActiveCorp by 1.4% during the third quarter. People s United Financial Inc. now owns 22,663 shares of the company’s stock valued at $4,912,000 after purchasing an additional 318 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in IAC/InterActiveCorp by 78.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,778 shares of the company’s stock valued at $8,837,000 after purchasing an additional 17,968 shares during the last quarter. Institutional investors and hedge funds own 87.04% of the company’s stock.
In related news, CFO Glenn Schiffman sold 2,000 shares of the company’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 this link. Insiders own 10.90% of the company’s stock.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. Equities research analysts expect that IAC/InterActiveCorp will post 5.55 earnings per share for the current year.
Several equities research analysts have issued reports on the stock. ValuEngine lowered shares of IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 20th. Citigroup lifted their target price on shares of IAC/InterActiveCorp from $200.00 to $248.00 and gave the company a “reduce” rating in a research report on Friday, August 10th. BMO Capital Markets reiterated a “buy” rating and set a $250.00 target price (up from $216.00) on shares of IAC/InterActiveCorp in a research report on Thursday, August 9th. Barclays lifted their target price on shares of IAC/InterActiveCorp to $244.00 and gave the company an “overweight” rating in a research report on Friday, August 10th. Finally, Nomura started coverage on shares of IAC/InterActiveCorp in a report on Thursday, October 11th. They issued a “buy” rating and a $246.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price 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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