IAC/InterActiveCorp Sees Large Decrease in Short Interest (IACI)
Shares of IAC/InterActiveCorp (NASDAQ:IACI) were the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 2,374,783 shares, a decline of 41.4% from the July 31st total of 4,054,465 shares, American Banking News.com reports. Based on an average trading volume of 1,745,283 shares, the days-to-cover ratio is currently 1.4 days. Currently, 3.1% of the shares of the company are sold short.
In other IAC/InterActiveCorp news, Director David S. Rosenblatt unloaded 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $68.27, for a total value of $512,025.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on IACI. Analysts at Maxim Group reiterated a “buy” rating on shares of IAC/InterActiveCorp in a research note on Tuesday, August 26th. They now have a $85.00 price target on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of IAC/InterActiveCorp in a research note on Thursday, July 31st. They now have a $75.00 price target on the stock, down previously from $76.00. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $75.75.
Shares of IAC/InterActiveCorp (NASDAQ:IACI) opened at 70.68 on Wednesday. IAC/InterActiveCorp has a 52 week low of $49.15 and a 52 week high of $80.64. The stock has a 50-day moving average of $66.85 and a 200-day moving average of $68.64. The company has a market cap of $5.894 billion and a P/E ratio of 31.73.
IAC/InterActiveCorp (NASDAQ:IACI) last announced its earnings data on Wednesday, July 30th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.81 by $0.77. The company had revenue of $756.30 million for the quarter, compared to the consensus estimate of $794.40 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that IAC/InterActiveCorp will post $2.15 EPS for the current fiscal year.
IAC/InterActiveCorp (NASDAQ:IACI) is a media and Internet company.
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