IAC Inc. (NASDAQ:IAC) Short Interest Down 8.5% in November

IAC Inc. (NASDAQ:IAC) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,930,000 shares, a drop of 8.5% from the October 31st total of 2,110,000 shares. Based on an average daily volume of 549,900 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IAC. Macquarie reissued an “outperform” rating and issued a $14.00 price target on shares of IAC in a report on Thursday, November 14th. Barclays dropped their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. KeyCorp dropped their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, TD Cowen decreased their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and an average target price of $70.36.

Institutional Trading of IAC

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its position in IAC by 6.7% during the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock worth $577,000 after buying an additional 686 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of IAC by 581.3% during the third quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock worth $5,291,000 after purchasing an additional 83,878 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of IAC by 15.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company’s stock worth $17,990,000 after purchasing an additional 44,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after purchasing an additional 25,909 shares during the last quarter. Finally, Barclays PLC raised its stake in IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after purchasing an additional 54,797 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

IAC Price Performance

Shares of NASDAQ IAC opened at $48.25 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. IAC has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The stock has a market cap of $3.88 billion, a PE ratio of -112.21 and a beta of 1.31. The stock has a fifty day moving average of $50.81 and a 200-day moving average of $50.23.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $922.62 million. During the same quarter in the prior year, the business earned ($0.30) EPS. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. Equities research analysts anticipate that IAC will post -3.97 earnings per share for the current year.

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.