IAC Inc. (NASDAQ:IAC) Short Interest Update

IAC Inc. (NASDAQ:IAC) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 2,110,000 shares, a decline of 9.4% from the October 15th total of 2,330,000 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily volume of 486,500 shares, the days-to-cover ratio is currently 4.3 days.

Hedge Funds Weigh In On IAC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of IAC in the first quarter valued at about $221,000. Russell Investments Group Ltd. increased its position in IAC by 29.0% in the 1st quarter. Russell Investments Group Ltd. now owns 104,889 shares of the company’s stock worth $5,595,000 after buying an additional 23,567 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of IAC by 6.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 89,514 shares of the company’s stock worth $4,619,000 after buying an additional 5,172 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of IAC in the first quarter valued at approximately $575,000. Finally, Covestor Ltd boosted its position 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 acquiring an additional 1,229 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Stock Up 0.6 %

Shares of IAC stock traded up $0.26 on Monday, hitting $47.21. The company’s stock had a trading volume of 647,218 shares, compared to its average volume of 665,490. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -109.19 and a beta of 1.33. IAC has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The firm’s fifty day moving average price is $51.97 and its 200-day moving average price is $50.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.68.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same period in the prior year, the firm earned ($0.30) EPS. IAC’s quarterly revenue was down 15.5% on a year-over-year basis. Research analysts anticipate that IAC will post -3.97 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup decreased their target price on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Barclays lowered their target price on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. KeyCorp lowered their price objective 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. Finally, Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.91.

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.