IAC/InterActiveCorp (IAC) Position Decreased by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 482,000 shares of the company’s stock after selling 46,500 shares during the quarter. IAC/InterActiveCorp accounts for approximately 3.7% of Handelsbanken Fonder AB’s holdings, making the stock its 6th biggest position. Handelsbanken Fonder AB owned approximately 0.58% of IAC/InterActiveCorp worth $104,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in IAC/InterActiveCorp in the second quarter valued at $12,722,000. Aperio Group LLC lifted its holdings in IAC/InterActiveCorp by 8.8% in the second quarter. Aperio Group LLC now owns 39,445 shares of the company’s stock valued at $6,015,000 after acquiring an additional 3,186 shares during the period. TD Asset Management Inc. lifted its holdings in IAC/InterActiveCorp by 6.4% in the second quarter. TD Asset Management Inc. now owns 98,934 shares of the company’s stock valued at $15,086,000 after acquiring an additional 5,994 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in IAC/InterActiveCorp by 8.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 257,291 shares of the company’s stock valued at $39,234,000 after acquiring an additional 20,817 shares during the period. Finally, First Manhattan Co. lifted its holdings in IAC/InterActiveCorp by 39.1% in the second quarter. First Manhattan Co. now owns 917,744 shares of the company’s stock valued at $139,946,000 after acquiring an additional 258,141 shares during the period. 86.29% of the stock is owned by hedge funds and other institutional investors.

IAC has been the subject of several research reports. Zacks Investment Research downgraded IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. UBS Group lifted their price target on IAC/InterActiveCorp from $224.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Jefferies Financial Group lifted their price target on IAC/InterActiveCorp to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, September 4th. JPMorgan Chase & Co. lifted their price target on IAC/InterActiveCorp from $186.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Finally, BidaskClub downgraded IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. IAC/InterActiveCorp currently has an average rating of “Buy” and a consensus price target of $211.75.

In related news, CFO Glenn Schiffman sold 2,000 shares of IAC/InterActiveCorp stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $217.22, for a total transaction of $434,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.90% of the company’s stock.

IAC/InterActiveCorp stock traded up $1.44 during midday trading on Friday, reaching $202.51. 332 shares of the company were exchanged, compared to its average volume of 756,028. The stock has a market cap of $17.18 billion, a PE ratio of 262.43, a P/E/G ratio of 2.56 and a beta of 1.25. IAC/InterActiveCorp has a 1 year low of $118.83 and a 1 year high of $223.54. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.61.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $1.50. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. IAC/InterActiveCorp had a return on equity of 10.24% and a net margin of 13.09%. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, equities analysts predict that IAC/InterActiveCorp will post 5.37 EPS for the current year.

About IAC/InterActiveCorp

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

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