Meridian Wealth Management LLC Takes Position in IAC/InterActiveCorp (IAC)

Meridian Wealth Management LLC purchased a new stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,280 shares of the company’s stock, valued at approximately $3,745,000. IAC/InterActiveCorp makes up approximately 1.6% of Meridian Wealth Management LLC’s portfolio, making the stock its 17th biggest position.

Several other large investors also recently modified their holdings of the company. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth about $107,000. Opera Trading Capital bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth about $243,000. Greenwood Capital Associates LLC bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth about $244,000. NumerixS Investment Technologies Inc bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth about $244,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in IAC/InterActiveCorp in the 2nd quarter worth about $321,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.

In other 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 SEC, which can be accessed through this hyperlink. 10.90% of the stock is owned by insiders.

Shares of IAC stock traded down $3.53 during trading hours on Friday, reaching $197.54. 10,737 shares of the company traded hands, compared to its average volume of 756,028. IAC/InterActiveCorp has a 12-month low of $118.83 and a 12-month high of $223.54. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.61. The stock has a market cap of $17.18 billion, a P/E ratio of 263.00, a PEG ratio of 2.56 and a beta of 1.25.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $2.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $1.50. IAC/InterActiveCorp had a return on equity of 10.24% and a net margin of 13.09%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s quarterly revenue was up 38.0% on a year-over-year basis. On average, equities research analysts expect that IAC/InterActiveCorp will post 5.37 earnings per share for the current fiscal year.

Several research firms recently commented on IAC. UBS Group lifted their price objective on IAC/InterActiveCorp from $200.00 to $224.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Aegis raised their target price on IAC/InterActiveCorp from $200.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. BidaskClub cut IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. JPMorgan Chase & Co. raised their target price on IAC/InterActiveCorp from $186.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating and set a $239.00 target price on the stock in a research report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $211.75.

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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