Research analysts at JPMorgan Chase & Co. initiated coverage on shares of IAC/InterActiveCorp (NASDAQ:IAC) in a research report issued to clients and investors on Friday. The brokerage set an “overweight” rating and a $175.00 price target on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 21.12% from the company’s previous close.
A number of other research firms have also issued reports on IAC. BidaskClub raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Wells Fargo & Co reissued an “outperform” rating and set a $168.00 price target (up previously from $150.00) on shares of IAC/InterActiveCorp in a report on Monday, January 8th. Zacks Investment Research lowered IAC/InterActiveCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 19th. Bank of America reissued a “buy” rating and set a $150.00 price target (up previously from $133.00) on shares of IAC/InterActiveCorp in a report on Tuesday, October 10th. Finally, Guggenheim reissued a “buy” rating and set a $150.00 price target on shares of IAC/InterActiveCorp in a report on Friday, December 22nd. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. IAC/InterActiveCorp presently has an average rating of “Buy” and an average price target of $146.18.
Shares of IAC/InterActiveCorp (NASDAQ IAC) traded down $0.61 during mid-day trading on Friday, hitting $144.48. The company’s stock had a trading volume of 749,654 shares, compared to its average volume of 591,343. The stock has a market capitalization of $11,895.06, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 4.48 and a beta of 1.38. IAC/InterActiveCorp has a 12 month low of $72.00 and a 12 month high of $146.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.07 and a current ratio of 2.07.
In other news, EVP Mark J. Stein sold 26,887 shares of IAC/InterActiveCorp stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $126.68, for a total transaction of $3,406,045.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Levin sold 78,500 shares of IAC/InterActiveCorp stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $128.83, for a total transaction of $10,113,155.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,929 shares of company stock valued at $22,516,569. Insiders own 10.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Fieldpoint Private Securities LLC acquired a new stake in shares of IAC/InterActiveCorp during the 3rd quarter valued at approximately $105,000. Cerebellum GP LLC acquired a new position in shares of IAC/InterActiveCorp during the 4th quarter worth approximately $124,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of IAC/InterActiveCorp during the 4th quarter worth approximately $147,000. Timber Hill LLC acquired a new position in shares of IAC/InterActiveCorp during the 3rd quarter worth approximately $208,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of IAC/InterActiveCorp during the 3rd quarter worth approximately $212,000. Institutional investors own 86.59% of the company’s stock.
About IAC/InterActiveCorp
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.
