IAC Inc. (NASDAQ:IAC) Short Interest Update

IAC Inc. (NASDAQ:IAC) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 2,870,000 shares, a drop of 6.5% from the August 31st total of 3,070,000 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average trading volume of 551,200 shares, the days-to-cover ratio is presently 5.2 days.

IAC Stock Down 1.6 %

Shares of NASDAQ IAC opened at $53.82 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market capitalization of $4.32 billion, a PE ratio of -34.06 and a beta of 1.32. IAC has a one year low of $41.39 and a one year high of $58.29. The business’s fifty day moving average price is $51.46 and its 200-day moving average price is $50.66.

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

Analyst Ratings Changes

IAC has been the topic of several analyst reports. Barclays cut 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 shares of IAC in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 target price for the company. Benchmark reissued a “buy” rating and set a $110.00 price target on shares of IAC in a research report 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. Finally, KeyCorp dropped their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Treasurer of the State of North Carolina lifted its position in shares of IAC by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company’s stock worth $1,721,000 after acquiring an additional 320 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in IAC in the 4th quarter worth about $209,000. First Trust Advisors LP purchased a new position in IAC during the 4th quarter valued at about $27,053,000. Freshford Capital Management LLC increased its position in shares of IAC by 18.7% during the fourth quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company’s stock valued at $86,182,000 after buying an additional 259,000 shares during the period. Finally, Garden State Investment Advisory Services LLC lifted its holdings in shares of IAC by 1.3% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company’s stock worth $786,000 after buying an additional 196 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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.