IAC Inc. (NASDAQ:IAC) Short Interest Update

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IAC shares. Citigroup reduced their price target 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. KeyCorp lowered their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, August 27th. JMP Securities started coverage on shares of IAC in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective on the stock. Finally, Barclays cut their target price 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. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and an average price target of $76.40.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in IAC in the second quarter valued at approximately $702,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of IAC by 26.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 290,267 shares of the company’s stock valued at $13,600,000 after acquiring an additional 60,875 shares during the period. Algert Global LLC acquired a new position in shares of IAC during the 2nd quarter valued at $366,000. Scientech Research LLC boosted its position in IAC by 184.0% during the 2nd quarter. Scientech Research LLC now owns 16,930 shares of the company’s stock worth $793,000 after purchasing an additional 10,969 shares during the period. Finally, Mackenzie Financial Corp boosted its position in IAC by 17.3% during the 2nd quarter. Mackenzie Financial Corp now owns 8,970 shares of the company’s stock worth $420,000 after purchasing an additional 1,320 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Down 4.0 %

Shares of NASDAQ:IAC opened at $51.66 on Wednesday. IAC has a 12-month low of $41.39 and a 12-month high of $58.29. The stock’s 50-day moving average price is $51.44 and its two-hundred day moving average price is $50.67. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -32.70 and a beta of 1.32.

IAC (NASDAQ:IAC) last released 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 company had revenue of $949.50 million during 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 quarter in the previous year, the firm posted ($0.76) earnings per share. On average, research analysts forecast that IAC will post -0.79 EPS for the current year.

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.