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

IAC Inc. (NASDAQ:IAC) was the target of a significant decrease in short interest during 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 trading volume, of 551,200 shares, the short-interest ratio is presently 5.2 days. Approximately 3.8% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays cut their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. JMP Securities assumed coverage on shares of IAC in a report on Tuesday, July 9th. They set an “outperform” rating and a $78.00 price target for the company. KeyCorp cut their price target on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Citigroup cut their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Truist Financial increased their price target on shares of IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

IAC Trading Up 0.1 %

Shares of IAC opened at $54.70 on Monday. 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’s 50-day moving average is $51.44 and its two-hundred day moving average is $50.64. IAC has a twelve month low of $41.39 and a twelve month high of $58.29. The firm has a market capitalization of $4.39 billion, a P/E ratio of -34.62 and a beta of 1.32.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share 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 analysts’ expectations of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the business earned ($0.76) earnings per share. On average, research analysts predict that IAC will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

Hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of IAC by 12.6% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company’s stock worth $11,483,000 after purchasing an additional 24,589 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of IAC during the first quarter worth $575,000. Patient Capital Management LLC boosted its holdings in shares of IAC by 7.7% during the fourth quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company’s stock worth $71,600,000 after purchasing an additional 97,938 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of IAC during the second quarter worth $1,649,000. Finally, Parkside Investments LLC boosted its holdings in shares of IAC by 16.2% during the first quarter. Parkside Investments LLC now owns 204,854 shares of the company’s stock worth $10,927,000 after purchasing an additional 28,585 shares during the last quarter. 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.