Pitcairn Co. Acquires New Position in IAC/InterActiveCorp (NASDAQ:IAC)

Pitcairn Co. acquired a new stake in IAC/InterActiveCorp (NASDAQ:IAC) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 737 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc raised its stake in IAC/InterActiveCorp by 53.8% in the 2nd quarter. CIBC Asset Management Inc now owns 33,300 shares of the company’s stock valued at $10,769,000 after acquiring an additional 11,652 shares during the period. Emerald Advisers LLC raised its stake in IAC/InterActiveCorp by 9.3% in the 2nd quarter. Emerald Advisers LLC now owns 3,105 shares of the company’s stock valued at $1,004,000 after acquiring an additional 263 shares during the period. Nisa Investment Advisors LLC raised its stake in IAC/InterActiveCorp by 1.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,600 shares of the company’s stock valued at $5,368,000 after acquiring an additional 300 shares during the period. Congress Park Capital LLC bought a new stake in IAC/InterActiveCorp in the 2nd quarter valued at about $1,921,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in IAC/InterActiveCorp in the 2nd quarter valued at about $28,000. Institutional investors and hedge funds own 0.02% of the company’s stock.

A number of research firms have weighed in on IAC. UBS Group reduced their target price on IAC/InterActiveCorp from $354.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Credit Suisse Group reduced their target price on IAC/InterActiveCorp from $283.00 to $280.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Wells Fargo & Co reaffirmed a “buy” rating on shares of IAC/InterActiveCorp in a report on Friday, July 17th. BMO Capital Markets reduced their target price on IAC/InterActiveCorp from $369.00 to $161.00 in a report on Friday, July 10th. Finally, Nomura Instinet reduced their target price on IAC/InterActiveCorp from $304.00 to $296.00 and set a “buy” rating for the company in a report on Monday, April 20th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $238.41.

Shares of IAC opened at $132.42 on Friday. The stock has a 50 day simple moving average of $192.68 and a two-hundred day simple moving average of $217.68. IAC/InterActiveCorp has a 1 year low of $100.22 and a 1 year high of $135.04.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its earnings results on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.28). The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. IAC/InterActiveCorp’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. Sell-side analysts anticipate that IAC/InterActiveCorp will post -3.83 earnings per share for the current fiscal year.

IAC/InterActiveCorp Company Profile

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.

Read More: Hedge Funds – Risk or Reward?

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

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