IAC Inc. (NASDAQ:IAC) Short Interest Up 8.3% in November

IAC Inc. (NASDAQ:IAC) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 2,090,000 shares, an increase of 8.3% from the November 15th total of 1,930,000 shares. Based on an average daily trading volume, of 565,900 shares, the days-to-cover ratio is presently 3.7 days. Approximately 2.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. TD Cowen decreased their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Barclays lowered their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. KeyCorp dropped their price objective on shares of IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $68.33.

IAC Trading Down 0.5 %

IAC stock traded down $0.21 during mid-day trading on Tuesday, reaching $44.56. 121,644 shares of the stock traded hands, compared to its average volume of 660,824. The business has a 50-day moving average price of $49.74 and a two-hundred day moving average price of $50.01. The stock has a market capitalization of $3.59 billion, a PE ratio of -104.12 and a beta of 1.31. 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 one year low of $43.51 and a one year high of $58.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same period last year, the company earned ($0.30) earnings per share. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. Equities research analysts expect that IAC will post -3.97 EPS for the current year.

Institutional Investors Weigh In On IAC

A number of institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in IAC in the 2nd quarter worth about $39,000. GAMMA Investing LLC boosted its holdings in shares of IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after purchasing an additional 492 shares during the period. Quarry LP grew its stake in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after purchasing an additional 785 shares in the last quarter. CWM LLC raised its position in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of IAC in the 2nd quarter worth $60,000. 88.90% of the stock is owned by institutional investors.

IAC Company Profile

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.