IAC Inc. (NASDAQ:IAC) Short Interest Update

IAC Inc. (NASDAQ:IAC) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 4,250,000 shares, a growth of 6.0% from the May 31st total of 4,010,000 shares. Approximately 5.7% of the shares of the company are sold short. Based on an average daily volume of 929,500 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IAC shares. Oppenheimer upped their price target on shares of IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Wells Fargo & Company increased their target price on IAC from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Barclays boosted their price target on IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Citigroup lowered their price objective on IAC from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Truist Financial boosted their target price on shares of IAC from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

IAC Stock Up 1.3 %

Shares of IAC traded up $0.61 during trading hours on Wednesday, reaching $46.44. 611,612 shares of the stock traded hands, compared to its average volume of 752,862. IAC has a 52 week low of $41.39 and a 52 week high of $69.85. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -29.44 and a beta of 1.32. The stock has a fifty day simple moving average of $50.23 and a 200 day simple moving average of $51.47. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, May 7th. The company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.21. The firm had revenue of $929.68 million for the quarter, compared to analysts’ expectations of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. On average, equities analysts forecast that IAC will post 0.09 EPS for the current year.

Institutional Trading of IAC

A number of large investors have recently added to or reduced their stakes in IAC. Riverview Trust Co purchased a new position in shares of IAC during the 1st quarter valued at $27,000. Geneos Wealth Management Inc. purchased a new stake in IAC during the first quarter valued at about $80,000. Headlands Technologies LLC boosted its position in IAC by 106.2% during the first quarter. Headlands Technologies LLC now owns 3,501 shares of the company’s stock worth $187,000 after purchasing an additional 1,803 shares during the period. Covestor Ltd increased its stake in shares of IAC by 47.3% in the first quarter. Covestor Ltd now owns 3,825 shares of the company’s stock worth $204,000 after purchasing an additional 1,229 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in shares of IAC in the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.