IAC Inc. (NASDAQ:IAC) Sees Large Decrease in Short Interest

IAC Inc. (NASDAQ:IAC) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,070,000 shares, a decline of 6.4% from the August 15th total of 3,280,000 shares. Based on an average trading 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.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IAC shares. Barclays reduced their price objective on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, August 27th. JMP Securities initiated coverage on IAC in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective for the company. Finally, KeyCorp decreased 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.40.

IAC Trading Up 1.1 %

NASDAQ:IAC opened at $54.05 on Thursday. IAC has a 52-week low of $41.39 and a 52-week high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $50.84 and a 200-day simple moving average of $50.54. The company has a market capitalization of $4.34 billion, a PE ratio of -34.21 and a beta of 1.32.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). The business had revenue of $949.50 million for the quarter, compared to analyst estimates of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The business’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.76) EPS. On average, equities research analysts expect that IAC will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in IAC in the 1st quarter valued at $27,000. International Assets Investment Management LLC acquired a new position in IAC in the second quarter valued at $39,000. CWM LLC lifted its position in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in IAC in the 2nd quarter worth about $60,000. Finally, Geneos Wealth Management Inc. purchased a new stake in IAC in the 1st quarter valued at about $80,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.