IAC Inc. (NASDAQ:IAC) Short Interest Update

IAC Inc. (NASDAQ:IAC) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 4,250,000 shares, a growth of 6.0% from the May 31st total of 4,010,000 shares. Based on an average daily trading volume, of 929,500 shares, the days-to-cover ratio is presently 4.6 days. Approximately 5.7% of the shares of the stock are sold short.

IAC Stock Up 1.3 %

Shares of IAC stock traded up $0.61 during mid-day trading on Wednesday, hitting $46.44. The stock had a trading volume of 611,612 shares, compared to its average volume of 752,862. The firm has a market capitalization of $3.73 billion, a P/E ratio of -29.44 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.70. IAC has a 12-month low of $41.39 and a 12-month high of $69.85. The firm’s 50-day moving average is $50.23 and its two-hundred day moving average is $51.47.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.21. The company had revenue of $929.68 million during the quarter, compared to analyst estimates of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. On average, analysts predict that IAC will post 0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. KeyCorp upped their price objective on IAC from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Truist Financial increased their target price on shares of IAC from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Oppenheimer lifted their price target on shares of IAC from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Barclays raised their price objective on shares of IAC from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Finally, StockNews.com cut IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and an average price target of $79.92.

Hedge Funds Weigh In On IAC

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Freshford Capital Management LLC grew its position in shares of IAC by 18.7% in the 4th quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company’s stock worth $86,182,000 after buying an additional 259,000 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in IAC by 7.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,549,025 shares of the company’s stock worth $81,138,000 after purchasing an additional 112,778 shares in the last quarter. Whitebox Advisors LLC grew its stake in shares of IAC by 9.5% during the 1st quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock worth $74,812,000 after purchasing an additional 121,664 shares during the period. Patient Capital Management LLC boosted its holdings in 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 buying an additional 97,938 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its position in shares of IAC by 25.6% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,299,646 shares of the company’s stock worth $68,075,000 after acquiring an additional 265,235 shares during the period. 88.90% of the stock is currently owned by institutional investors.

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.