Pictet Asset Management SA trimmed its stake in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 5.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 56,544 shares of the company’s stock after selling 3,491 shares during the period. Pictet Asset Management SA’s holdings in IAC were worth $4,296,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in IAC in the 2nd quarter worth approximately $70,000. Eqis Capital Management Inc. bought a new stake in IAC in the second quarter worth $1,645,000. First Pacific Advisors LP raised its stake in IAC by 105.8% during the second quarter. First Pacific Advisors LP now owns 59,911 shares of the company’s stock valued at $4,551,000 after purchasing an additional 30,803 shares in the last quarter. Walleye Capital LLC bought a new position in IAC during the second quarter valued at $350,000. Finally, Boyar Asset Management Inc. grew its position in IAC by 1.9% in the second quarter. Boyar Asset Management Inc. now owns 8,581 shares of the company’s stock worth $652,000 after acquiring an additional 164 shares in the last quarter. 99.07% of the stock is currently owned by institutional investors.
Insider Activity at IAC
In related news, major shareholder Iac Inc. purchased 148,000 shares of IAC stock in a transaction dated Monday, August 22nd. The stock was purchased at an average cost of $33.78 per share, with a total value of $4,999,440.00. Following the transaction, the insider now owns 64,672,502 shares in the company, valued at approximately $2,184,637,117.56. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 13.30% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
IAC Trading Down 0.4 %
NASDAQ:IAC opened at $47.11 on Friday. The firm has a 50-day simple moving average of $52.33 and a 200-day simple moving average of $67.75. IAC Inc. has a one year low of $43.80 and a one year high of $140.77. The firm has a market cap of $3.91 billion, a P/E ratio of -3.55 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.29 and a current ratio of 2.29.
IAC Company Profile
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.
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