Verition Fund Management LLC Invests $1.73 Million in IAC/InterActiveCorp (NASDAQ:IAC)

Verition Fund Management LLC bought a new position in shares of IAC/InterActiveCorp (NASDAQ:IAC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,998 shares of the company’s stock, valued at approximately $1,730,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Concord Wealth Partners acquired a new stake in IAC/InterActiveCorp in the 1st quarter worth about $26,000. Tacita Capital Inc acquired a new stake in IAC/InterActiveCorp in the 4th quarter worth about $27,000. TRU Independence Asset Management 2 LLC acquired a new stake in IAC/InterActiveCorp in the 4th quarter worth about $27,000. Encompass Wealth Advisors LLC acquired a new stake in IAC/InterActiveCorp in the 4th quarter worth about $27,000. Finally, Meeder Asset Management Inc. raised its stake in IAC/InterActiveCorp by 103.1% in the 1st quarter. Meeder Asset Management Inc. now owns 132 shares of the company’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Several analysts have weighed in on IAC shares. Zacks Investment Research upgraded shares of IAC/InterActiveCorp from a “sell” rating to a “strong-buy” rating and set a $166.00 price objective for the company in a research note on Tuesday, July 13th. BMO Capital Markets upgraded shares of IAC/InterActiveCorp from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $250.00 to $170.00 in a research note on Wednesday. Piper Sandler dropped their target price on shares of IAC/InterActiveCorp from $278.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, June 11th. Credit Suisse Group boosted their target price on shares of IAC/InterActiveCorp from $253.00 to $291.00 and gave the company an “outperform” rating in a research report on Thursday, May 6th. Finally, Wedbush dropped their target price on shares of IAC/InterActiveCorp from $276.00 to $193.00 and set an “outperform” rating for the company in a research report on Wednesday, May 26th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. IAC/InterActiveCorp currently has a consensus rating of “Buy” and an average target price of $223.76.

IAC opened at $139.28 on Thursday. IAC/InterActiveCorp has a fifty-two week low of $74.67 and a fifty-two week high of $179.12. The company has a market cap of $11.61 billion and a price-to-earnings ratio of 13.98. The stock’s 50 day simple moving average is $164.00.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Thursday, May 6th. The company reported $3.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.49) by $3.95. The business had revenue of $876.00 million for the quarter, compared to the consensus estimate of $824.48 million. During the same period in the previous year, the firm earned ($2.49) earnings per share. The company’s revenue was up 28.1% compared to the same quarter last year. As a group, analysts expect that IAC/InterActiveCorp will post -3.34 earnings per share for the current fiscal year.

IAC/InterActiveCorp Company Profile

IAC/InterActiveCorp operates as a media and internet company worldwide. The company offers digital marketplace service which connects consumers with service professionals for repairing, remodeling, cleaning, and landscaping solutions under the HomeAdvisor, Angie's List, and Handy brands; Vimeo, a cloud-based software platform for professionals, teams, and organizations to create, collaborate, and communicate with video; and Dotdash, a portfolio of digital publishing brands that provides information and inspiration in select vertical content categories, as well as provides original and engaging digital content in a various formats, including articles, illustrations, videos, and images.

Further Reading: Special Dividends

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

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