Contour Asset Management LLC Cuts Stake in IAC/InterActiveCorp (IAC)
Contour Asset Management LLC cut its position in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 26.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 776,975 shares of the company’s stock after selling 275,564 shares during the period. IAC/InterActiveCorp accounts for about 4.8% of Contour Asset Management LLC’s investment portfolio, making the stock its 10th largest position. Contour Asset Management LLC owned approximately 1.05% of IAC/InterActiveCorp worth $80,215,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. ClariVest Asset Management LLC acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter valued at about $133,000. FNY Partners Fund LP acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter valued at about $152,000. First Mercantile Trust Co. acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter valued at about $193,000. Virtu Financial LLC acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter valued at about $201,000. Finally, Reliance Trust Co. of Delaware acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter valued at about $202,000. 85.19% of the stock is owned by institutional investors.
A number of research firms have issued reports on IAC. Cowen and Company reaffirmed a “buy” rating and issued a $115.00 target price on shares of IAC/InterActiveCorp in a report on Sunday, July 30th. BidaskClub lowered IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 16th. Benchmark Co. raised their target price on IAC/InterActiveCorp from $135.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 21st. Zacks Investment Research raised IAC/InterActiveCorp from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $140.00 target price (up previously from $114.00) on shares of IAC/InterActiveCorp in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. IAC/InterActiveCorp has an average rating of “Buy” and a consensus target price of $115.68.
Shares of IAC/InterActiveCorp (IAC) traded down 0.17% during mid-day trading on Friday, hitting $121.43. The stock had a trading volume of 157,526 shares. The stock has a market capitalization of $9.68 billion, a P/E ratio of 43.40 and a beta of 1.14. IAC/InterActiveCorp has a 52 week low of $60.39 and a 52 week high of $123.49. The stock has a 50 day moving average of $113.14 and a 200-day moving average of $100.35.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Wednesday, August 2nd. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.50 by $0.24. IAC/InterActiveCorp had a return on equity of 9.16% and a net margin of 7.66%. The company had revenue of $767.39 million for the quarter, compared to the consensus estimate of $758.01 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts predict that IAC/InterActiveCorp will post $3.07 earnings per share for the current year.
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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