Short Interest in IAC Inc. (NASDAQ:IAC) Decreases By 9.4%

IAC Inc. (NASDAQ:IAC) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,110,000 shares, a decline of 9.4% from the October 15th total of 2,330,000 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily volume of 486,500 shares, the short-interest ratio is presently 4.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IAC. International Assets Investment Management LLC purchased a new stake in IAC in the second quarter worth $39,000. GAMMA Investing LLC boosted its stake in IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares in the last quarter. Quarry LP grew its holdings 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 during the period. CWM LLC increased its holdings in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of IAC in the second quarter worth approximately $60,000. Institutional investors own 88.90% of the company’s stock.

IAC Price Performance

IAC stock traded up $0.48 during midday trading on Tuesday, reaching $47.69. 368,653 shares of the stock were exchanged, compared to its average volume of 664,165. IAC has a 52 week low of $43.51 and a 52 week high of $58.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company’s fifty day moving average is $51.91 and its 200-day moving average is $50.86.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) 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 business had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter last year, the business posted ($0.30) EPS. The company’s quarterly revenue was down 15.5% on a year-over-year basis. As a group, equities analysts forecast that IAC will post -3.97 EPS for the current year.

Wall Street Analyst Weigh In

IAC has been the subject of a number of research reports. Barclays dropped their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Benchmark reissued a “buy” rating and set a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. TD Cowen lowered their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, KeyCorp cut their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.91.

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.