IAC Inc. (NASDAQ:IAC) Short Interest Update

IAC Inc. (NASDAQ:IAC) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 3,070,000 shares, a decrease of 6.4% from the August 15th total of 3,280,000 shares. Based on an average daily volume of 572,500 shares, the days-to-cover ratio is presently 5.4 days. Currently, 4.1% of the shares of the company are short sold.

IAC Stock Performance

Shares of IAC stock opened at $54.65 on Friday. The stock has a fifty day moving average price of $50.95 and a 200 day moving average price of $50.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $4.39 billion, a PE ratio of -34.59 and a beta of 1.32. IAC has a 1 year low of $41.39 and a 1 year high of $58.29.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.39). IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The firm had revenue of $949.50 million for the quarter, compared to analyst estimates of $942.77 million. During the same period last year, the firm earned ($0.76) EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. Sell-side analysts forecast that IAC will post -0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IAC shares. Benchmark restated a “buy” rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, August 27th. Citigroup reduced their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Barclays dropped their target price on IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. JMP Securities assumed coverage on IAC in a report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price target for the company. Finally, Truist Financial lifted their price target on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $76.40.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. purchased a new position in shares of IAC during the fourth quarter valued at approximately $209,000. Norges Bank purchased a new position in shares of IAC during the 4th quarter worth $39,426,000. Quest Partners LLC purchased a new stake in shares of IAC in the fourth quarter valued at $390,000. Aigen Investment Management LP purchased a new stake in shares of IAC in the fourth quarter valued at $365,000. Finally, IMC Chicago LLC acquired a new position in IAC in the fourth quarter valued at $724,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

About IAC

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.