Castleark Management LLC decreased its position in IAC/InterActiveCorp (NASDAQ:IAC) by 88.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,790 shares of the company’s stock after selling 14,060 shares during the period. Castleark Management LLC’s holdings in IAC/InterActiveCorp were worth $390,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in IAC. Next Capital Management LLC bought a new stake in shares of IAC/InterActiveCorp during the second quarter valued at approximately $28,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in IAC/InterActiveCorp by 78.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock valued at $42,000 after buying an additional 85 shares during the period. Maj Invest Holding A S purchased a new stake in IAC/InterActiveCorp in the 3rd quarter valued at about $63,000. Assetmark Inc. raised its holdings in IAC/InterActiveCorp by 119.1% in the 2nd quarter. Assetmark Inc. now owns 298 shares of the company’s stock valued at $65,000 after buying an additional 162 shares during the period. Finally, NEXT Financial Group Inc raised its holdings in IAC/InterActiveCorp by 152.0% in the 2nd quarter. NEXT Financial Group Inc now owns 315 shares of the company’s stock valued at $69,000 after buying an additional 190 shares during the period. 89.48% of the stock is owned by institutional investors.
IAC stock opened at $222.70 on Monday. The company’s 50 day moving average price is $224.08 and its 200 day moving average price is $231.19. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.56 and a current ratio of 3.56. IAC/InterActiveCorp has a fifty-two week low of $161.39 and a fifty-two week high of $268.72. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 1.26 and a beta of 0.90.
IAC has been the topic of several research analyst reports. Citigroup initiated coverage on shares of IAC/InterActiveCorp in a report on Tuesday, September 17th. They issued a “buy” rating and a $290.00 price objective on the stock. Cowen set a $315.00 price target on shares of IAC/InterActiveCorp and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Co reiterated a “buy” rating on shares of IAC/InterActiveCorp in a research note on Friday, August 9th. Benchmark cut their price target on shares of IAC/InterActiveCorp from $300.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Guggenheim cut their price target on shares of IAC/InterActiveCorp from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $282.10.
In related news, EVP Mark J. Stein sold 38,993 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $254.77, for a total value of $9,934,246.61. Following the completion of the transaction, the executive vice president now directly owns 111,451 shares of the company’s stock, valued at $28,394,371.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn Schiffman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $228.37, for a total value of $228,370.00. Insiders have sold 44,993 shares of company stock worth $11,363,137 over the last 90 days. Insiders own 11.50% of the company’s stock.
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.
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