IAC Inc. (NASDAQ:IAC) Short Interest Update

IAC Inc. (NASDAQ:IAC) was the recipient of 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. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 486,500 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Investors Weigh In On IAC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAC. International Assets Investment Management LLC acquired a new stake in IAC in the 2nd quarter valued at about $39,000. Quarry LP boosted its holdings in shares of IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares during the period. GAMMA Investing LLC raised its holdings in IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after acquiring an additional 492 shares during the period. CWM LLC increased its stake in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in IAC during the second quarter valued at approximately $60,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IAC has been the subject of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. Truist Financial lowered their price objective on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. KeyCorp decreased their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. 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 research note on Wednesday, November 13th. Finally, Citigroup cut their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and an average price target of $70.91.

IAC Trading Up 1.0 %

NASDAQ:IAC traded up $0.48 on Tuesday, hitting $47.69. 368,653 shares of the stock were exchanged, compared to its average volume of 664,165. 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 52 week low of $43.51 and a 52 week high of $58.29. The company’s 50-day moving average price is $51.91 and its 200 day moving average price is $50.86.

IAC (NASDAQ:IAC) last posted its quarterly earnings results 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 business had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same period last year, the firm earned ($0.30) earnings per share. The company’s quarterly revenue was down 15.5% on a year-over-year basis. On average, equities research analysts forecast that IAC will post -3.97 earnings per share for the current fiscal year.

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.