Is IAC/InterActiveCorp (IAC) a Good Stock to Buy?

Due to the fact that IAC/InterActiveCorp (NASDAQ:IAC) has faced bearish sentiment from the smart money, we can see that there is a sect of fund managers that elected to cut their full holdings during the third quarter. Intriguingly, Jamie Zimmerman’s Litespeed Management dumped the biggest position of all the hedgies followed by Insider Monkey, totaling about $50.3 million in stock, and Dmitry Balyasny’s Balyasny Asset Management was right behind this move, as the fund dumped about $11 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to IAC/InterActiveCorp (NASDAQ:IAC). We will take a look at AutoNation, Inc. (NYSE:AN), MDU Resources Group Inc (NYSE:MDU), Genpact Limited (NYSE:G), and Polaris Industries Inc. (NYSE:PII). This group of stocks’ market caps are similar to IAC’s market cap.

As you can see these stocks had an average of 17 funds with bullish positions and the average amount invested in these stocks was $427 million. That figure was $1.29 billion in IAC’s case. AutoNation, Inc. (NYSE:AN) is the most popular stock in this table. On the other hand MDU Resources Group Inc (NYSE:MDU) is the least popular one with only 10 investors holding long positions. Compared to these stocks IAC/InterActiveCorp (NASDAQ:IAC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none