Pinnacle Associates Ltd. cut its stake in shares of IAC/InterActiveCorp (NASDAQ:IAC) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 452,643 shares of the company’s stock after selling 43,486 shares during the period. IAC/InterActiveCorp accounts for about 0.9% of Pinnacle Associates Ltd.’s portfolio, making the stock its 26th largest position. Pinnacle Associates Ltd. owned 0.57% of IAC/InterActiveCorp worth $46,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning increased its position in shares of IAC/InterActiveCorp by 0.6% in the first quarter. Creative Planning now owns 1,687 shares of the company’s stock valued at $124,000 after buying an additional 10 shares during the last quarter. Comerica Bank increased its position in shares of IAC/InterActiveCorp by 0.7% in the first quarter. Comerica Bank now owns 3,269 shares of the company’s stock valued at $272,000 after buying an additional 23 shares during the last quarter. US Bancorp DE increased its position in shares of IAC/InterActiveCorp by 0.6% in the second quarter. US Bancorp DE now owns 5,261 shares of the company’s stock valued at $543,000 after buying an additional 30 shares during the last quarter. Keybank National Association OH increased its position in shares of IAC/InterActiveCorp by 1.7% in the second quarter. Keybank National Association OH now owns 8,987 shares of the company’s stock valued at $928,000 after buying an additional 150 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of IAC/InterActiveCorp by 3.7% in the first quarter. Blair William & Co. IL now owns 4,937 shares of the company’s stock valued at $365,000 after buying an additional 177 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

IAC/InterActiveCorp (NASDAQ:IAC) traded down 0.94% during trading on Friday, hitting $112.44. 184,033 shares of the company’s stock were exchanged. IAC/InterActiveCorp has a 52-week low of $56.64 and a 52-week high of $114.72. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 40.19 and a beta of 1.14. The firm has a 50 day moving average price of $105.92 and a 200 day moving average price of $93.16.

IAC/InterActiveCorp (NASDAQ:IAC) last released its earnings results on Wednesday, August 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.24. The firm had revenue of $767.39 million during the quarter, compared to analyst estimates of $758.01 million. IAC/InterActiveCorp had a net margin of 7.66% and a return on equity of 9.16%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. On average, equities research analysts predict that IAC/InterActiveCorp will post $3.06 earnings per share for the current year.

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A number of research firms have recently issued reports on IAC. UBS AG reaffirmed a “buy” rating and set a $115.00 price objective (up from $84.00) on shares of IAC/InterActiveCorp in a report on Friday, May 5th. Stifel Nicolaus dropped their price objective on shares of IAC/InterActiveCorp from $103.00 to $73.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Barclays PLC reaffirmed an “overweight” rating and set a $130.00 price objective (up from $105.00) on shares of IAC/InterActiveCorp in a report on Friday, August 4th. Bank of America Corporation reaffirmed a “buy” rating and set a $133.00 price objective on shares of IAC/InterActiveCorp in a report on Wednesday, June 14th. Finally, Aegis reaffirmed a “buy” rating and set a $125.00 price objective (up from $115.00) on shares of IAC/InterActiveCorp in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $108.45.

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.

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

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