IAC/InterActiveCorp (IAC) Short Interest Up 42.8% in August
IAC/InterActiveCorp (NASDAQ:IAC) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,336,828 shares, a growth of 42.8% from the August 15th total of 936,349 shares. Based on an average daily trading volume, of 468,039 shares, the days-to-cover ratio is presently 2.9 days. Currently, 1.8% of the shares of the stock are sold short.
A number of research firms recently issued reports on IAC. BidaskClub raised IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a report on Friday, September 8th. Wells Fargo & Company reaffirmed a “buy” rating on shares of IAC/InterActiveCorp in a report on Thursday, August 3rd. UBS AG reaffirmed a “buy” rating and issued a $126.00 price target (up from $115.00) on shares of IAC/InterActiveCorp in a report on Friday, August 4th. Barclays PLC reaffirmed an “overweight” rating and issued a $130.00 price target (up from $105.00) on shares of IAC/InterActiveCorp in a report on Friday, August 4th. Finally, TheStreet raised IAC/InterActiveCorp from a “c+” rating to an “a-” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $108.45.
IAC/InterActiveCorp (NASDAQ:IAC) opened at 113.92 on Friday. The stock’s 50 day moving average price is $108.26 and its 200 day moving average price is $95.99. IAC/InterActiveCorp has a 52-week low of $58.07 and a 52-week high of $119.53. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 40.71 and a beta of 1.13.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.24. IAC/InterActiveCorp had a return on equity of 9.16% and a net margin of 7.66%. The company had revenue of $767.39 million during the quarter, compared to the consensus estimate of $758.01 million. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that IAC/InterActiveCorp will post $3.07 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Oak Associates Ltd. OH raised its position in shares of IAC/InterActiveCorp by 7.0% during the second quarter. Oak Associates Ltd. OH now owns 183,473 shares of the company’s stock worth $18,942,000 after acquiring an additional 12,050 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of IAC/InterActiveCorp by 1.9% during the second quarter. Dynamic Technology Lab Private Ltd now owns 5,620 shares of the company’s stock worth $581,000 after acquiring an additional 104 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of IAC/InterActiveCorp by 8.0% during the second quarter. Public Employees Retirement System of Ohio now owns 29,257 shares of the company’s stock worth $3,020,000 after acquiring an additional 2,161 shares during the last quarter. Koch Industries Inc. raised its position in shares of IAC/InterActiveCorp by 5,988.8% during the second quarter. Koch Industries Inc. now owns 325,020 shares of the company’s stock worth $322,000 after acquiring an additional 319,682 shares during the last quarter. Finally, EastBay Asset Management LLC bought a new position in shares of IAC/InterActiveCorp during the second quarter worth about $5,165,000. Institutional investors own 85.20% of the company’s stock.
IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.
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