Envestnet Asset Management Inc. Sells 5,787 Shares of IAC/InterActiveCorp (NASDAQ:IAC)

Posted by MarketBeat News on Aug 6th, 2022

Envestnet Asset Management Inc. reduced its stake in IAC/InterActiveCorp (NASDAQ:IAC – Get Rating) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,195 shares of the company’s stock after selling 5,787 shares during the period. Envestnet Asset Management Inc.’s holdings in IAC/InterActiveCorp were worth $12,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in IAC. 683 Capital Management LLC boosted its stake in shares of IAC/InterActiveCorp by 147.6% in the fourth quarter. 683 Capital Management LLC now owns 759,800 shares of the company’s stock valued at $99,313,000 after buying an additional 452,903 shares during the period. Thompson Siegel & Walmsley LLC raised its position in IAC/InterActiveCorp by 106.8% during the first quarter. Thompson Siegel & Walmsley LLC now owns 733,344 shares of the company’s stock valued at $73,540,000 after purchasing an additional 378,716 shares in the last quarter. Southeastern Asset Management Inc. TN raised its position in IAC/InterActiveCorp by 18.9% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 1,984,307 shares of the company’s stock valued at $259,369,000 after purchasing an additional 314,885 shares in the last quarter. Incline Global Management LLC acquired a new position in IAC/InterActiveCorp during the fourth quarter valued at approximately $38,120,000. Finally, Bank of America Corp DE raised its position in IAC/InterActiveCorp by 114.5% during the fourth quarter. Bank of America Corp DE now owns 538,969 shares of the company’s stock valued at $70,450,000 after purchasing an additional 287,694 shares in the last quarter. 96.44% of the stock is currently owned by institutional investors.

IAC/InterActiveCorp Stock Performance

NASDAQ IAC opened at $77.34 on Friday. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 515.63 and a beta of 1.04. IAC/InterActiveCorp has a twelve month low of $66.59 and a twelve month high of $158.81. The stock has a fifty day simple moving average of $77.82 and a 200 day simple moving average of $94.45. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.27.

IAC/InterActiveCorp (NASDAQ:IAC – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.01. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. IAC/InterActiveCorp had a net margin of 0.91% and a negative return on equity of 1.17%. The business’s quarterly revenue was up 68.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Sell-side analysts expect that IAC/InterActiveCorp will post -2.68 EPS for the current year.

Wall Street Analyst Weigh In

IAC has been the subject of several research analyst reports. Benchmark lowered their price objective on shares of IAC/InterActiveCorp from $200.00 to $175.00 in a research report on Wednesday, May 11th. Wedbush lowered their price objective on shares of IAC/InterActiveCorp from $149.00 to $107.00 in a research report on Wednesday, May 11th. Wells Fargo & Company lowered their price objective on shares of IAC/InterActiveCorp from $165.00 to $135.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. KeyCorp lowered their price target on shares of IAC/InterActiveCorp from $190.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, April 11th. Finally, Barclays lowered their price target on shares of IAC/InterActiveCorp from $160.00 to $130.00 in a report on Wednesday, May 11th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.40.

IAC/InterActiveCorp Company Profile

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IAC/InterActiveCorp operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.