Cramer Rosenthal Mcglynn LLC Has $49.97 Million Position in IAC/InterActiveCorp (IAC)
Cramer Rosenthal Mcglynn LLC lowered its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 17.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 483,979 shares of the company’s stock after selling 103,132 shares during the period. Cramer Rosenthal Mcglynn LLC owned 0.65% of IAC/InterActiveCorp worth $49,966,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of IAC. Vanguard Group Inc. grew its stake in IAC/InterActiveCorp by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,887,254 shares of the company’s stock worth $607,801,000 after acquiring an additional 149,182 shares during the period. BlackRock Inc. raised its holdings in IAC/InterActiveCorp by 2.6% in the 2nd quarter. BlackRock Inc. now owns 3,275,849 shares of the company’s stock valued at $338,199,000 after acquiring an additional 83,794 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in IAC/InterActiveCorp by 44.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,100 shares of the company’s stock valued at $327,797,000 after acquiring an additional 975,000 shares during the last quarter. Boston Partners raised its holdings in IAC/InterActiveCorp by 1.9% in the 2nd quarter. Boston Partners now owns 3,050,689 shares of the company’s stock valued at $314,953,000 after acquiring an additional 57,689 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in IAC/InterActiveCorp by 13.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,601,498 shares of the company’s stock valued at $268,579,000 after acquiring an additional 316,034 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.
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Shares of IAC/InterActiveCorp (NASDAQ IAC) traded down 0.10% on Wednesday, hitting $121.70. The company’s stock had a trading volume of 191,867 shares. The stock has a market capitalization of $9.71 billion, a P/E ratio of 43.50 and a beta of 1.14. The stock’s 50 day moving average price is $112.17 and its 200 day moving average price is $100.03. IAC/InterActiveCorp has a 52 week low of $60.39 and a 52 week high of $122.98.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.24. The firm had revenue of $767.39 million during the quarter, compared to analysts’ expectations of $758.01 million. IAC/InterActiveCorp had a net margin of 7.66% and a return on equity of 9.16%. IAC/InterActiveCorp’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. On average, analysts forecast that IAC/InterActiveCorp will post $3.08 earnings per share for the current fiscal year.
IAC has been the topic of several analyst reports. Piper Jaffray Companies raised their price objective on IAC/InterActiveCorp to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. TheStreet upgraded IAC/InterActiveCorp from a “c+” rating to an “a-” rating in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $127.00 target price (up from $120.00) on shares of IAC/InterActiveCorp in a research note on Wednesday, August 9th. Aegis reiterated a “buy” rating and set a $125.00 target price (up from $115.00) on shares of IAC/InterActiveCorp in a research report on Tuesday, August 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price (up from $110.00) on shares of IAC/InterActiveCorp in a research report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. IAC/InterActiveCorp presently has a consensus rating of “Buy” and a consensus target price of $111.95.
IAC/InterActiveCorp Company Profile
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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