Short Interest in IAC Inc. (NASDAQ:IAC) Rises By 6.0%

IAC Inc. (NASDAQ:IAC) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 4,250,000 shares, an increase of 6.0% from the May 31st total of 4,010,000 shares. Based on an average trading volume of 929,500 shares, the days-to-cover ratio is currently 4.6 days. Approximately 5.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. KeyCorp increased their target price on shares of IAC from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. StockNews.com lowered shares of IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Barclays raised their price target on shares of IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Truist Financial raised their price target on shares of IAC from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Oppenheimer increased their price objective on shares of IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $79.92.

IAC Stock Performance

NASDAQ:IAC opened at $46.44 on Thursday. The company has a fifty day simple moving average of $50.23 and a two-hundred day simple moving average of $51.47. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -29.39 and a beta of 1.32. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. IAC has a 52 week low of $41.39 and a 52 week high of $69.85.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.21. The business had revenue of $929.68 million during the quarter, compared to the consensus estimate of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. As a group, equities analysts anticipate that IAC will post 0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of institutional investors and hedge funds have recently modified their holdings of IAC. Riverview Trust Co acquired a new position in IAC in the first quarter valued at $27,000. Geneos Wealth Management Inc. acquired a new position in IAC in the first quarter valued at $80,000. Headlands Technologies LLC boosted its stake in IAC by 106.2% in the first quarter. Headlands Technologies LLC now owns 3,501 shares of the company’s stock valued at $187,000 after acquiring an additional 1,803 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in IAC in the fourth quarter valued at $203,000. Finally, Covestor Ltd raised its holdings in shares of IAC by 47.3% in the first quarter. Covestor Ltd now owns 3,825 shares of the company’s stock valued at $204,000 after buying an additional 1,229 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Company Profile

IAC Inc, together with its subsidiaries, 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.