IAC/InterActiveCorp (IAC) Earns Outperform Rating from Analysts at Evercore ISI
Equities researchers at Evercore ISI started coverage on shares of IAC/InterActiveCorp (NASDAQ:IAC) in a research note issued on Tuesday, The Fly reports. The firm set an “outperform” rating on the stock.
A number of other research firms have also weighed in on IAC. BidaskClub lowered shares of IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 21st. Piper Jaffray Companies boosted their target price on shares of IAC/InterActiveCorp to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Bank of America reissued a “buy” rating and set a $150.00 target price (up from $133.00) on shares of IAC/InterActiveCorp in a report on Tuesday, October 10th. Oppenheimer reissued an “outperform” rating and set a $127.00 target price (up from $120.00) on shares of IAC/InterActiveCorp in a report on Wednesday, August 9th. Finally, Wells Fargo & Company reissued a “buy” rating and set a $150.00 target price (up from $125.00) on shares of IAC/InterActiveCorp in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $141.40.
Shares of IAC/InterActiveCorp (NASDAQ IAC) traded up $0.78 during trading on Tuesday, hitting $122.71. 652,163 shares of the company traded hands, compared to its average volume of 769,922. The company has a market cap of $10,189.79, a price-to-earnings ratio of 99.43, a PEG ratio of 27.37 and a beta of 1.09. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.57. IAC/InterActiveCorp has a 12 month low of $64.69 and a 12 month high of $137.86.
In other news, CEO Joseph Levin sold 78,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $128.83, for a total value of $10,113,155.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David S. Rosenblatt sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $133.00, for a total transaction of $798,000.00. The disclosure for this sale can be found here. 11.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of IAC. Vanguard Group Inc. lifted its position in shares of IAC/InterActiveCorp by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,887,254 shares of the company’s stock valued at $607,801,000 after acquiring an additional 149,182 shares during the period. Cheyne Capital Management UK LLP acquired a new position in shares of IAC/InterActiveCorp during the 3rd quarter valued at $418,000. Canada Pension Plan Investment Board lifted its position in shares of IAC/InterActiveCorp by 6.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 3,383,327 shares of the company’s stock valued at $397,812,000 after acquiring an additional 208,227 shares during the period. BlackRock Inc. lifted its position in shares of IAC/InterActiveCorp by 2.6% during the 2nd quarter. BlackRock Inc. now owns 3,275,849 shares of the company’s stock valued at $338,199,000 after acquiring an additional 83,794 shares during the period. Finally, Boston Partners lifted its position in shares of IAC/InterActiveCorp by 0.8% during the 3rd quarter. Boston Partners now owns 3,074,055 shares of the company’s stock valued at $361,448,000 after acquiring an additional 23,366 shares during the period. Hedge funds and other institutional investors own 86.74% 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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