IAC/InterActiveCorp (IAC) Shares Sold by Davidson Kempner Capital Management LP
Davidson Kempner Capital Management LP lowered its position in IAC/InterActiveCorp (NASDAQ:IAC) by 6.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,187,500 shares of the company’s stock after selling 83,104 shares during the period. IAC/InterActiveCorp comprises approximately 3.9% of Davidson Kempner Capital Management LP’s investment portfolio, making the stock its 4th biggest position. Davidson Kempner Capital Management LP owned approximately 1.49% of IAC/InterActiveCorp worth $139,674,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. ClariVest Asset Management LLC acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth about $133,000. FNY Partners Fund LP acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth about $152,000. First Mercantile Trust Co. acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth about $193,000. Piedmont Investment Advisors LLC acquired a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth about $205,000. Finally, Timber Hill LLC acquired a new position in shares of IAC/InterActiveCorp during the 3rd quarter worth about $208,000. Institutional investors and hedge funds own 86.74% of the company’s stock.
In other news, CEO Joseph Levin sold 78,500 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $128.83, for a total value of $10,113,155.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edgar Bronfman, Jr. sold 2,289 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $122.94, for a total transaction of $281,409.66. The disclosure for this sale can be found here. In the last three months, insiders sold 86,789 shares of company stock valued at $11,192,565. Corporate insiders own 11.30% of the company’s stock.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.14). IAC/InterActiveCorp had a net margin of 11.81% and a return on equity of 4.26%. The business had revenue of $828.40 million for the quarter, compared to analysts’ expectations of $810.36 million. During the same period in the prior year, the company posted $0.73 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. equities analysts expect that IAC/InterActiveCorp will post 0.55 earnings per share for the current year.
Several research analysts recently weighed in on IAC shares. Aegis restated a “buy” rating and set a $125.00 price target (up previously from $115.00) on shares of IAC/InterActiveCorp in a research report on Tuesday, August 15th. Piper Jaffray Companies upped their price target on shares of IAC/InterActiveCorp to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 16th. BidaskClub upgraded shares of IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 8th. Guggenheim restated a “buy” rating and set a $130.00 price target (up previously from $120.00) on shares of IAC/InterActiveCorp in a research report on Monday, September 18th. Finally, Benchmark upped their price target on shares of IAC/InterActiveCorp from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $142.05.
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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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