IAC Inc. (NASDAQ:IAC) Sees Large Growth in Short Interest

IAC Inc. (NASDAQ:IAC - Get Free Report) saw a large increase in short interest in 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 volume of 565,900 shares, the short-interest ratio is presently 3.7 days. Approximately 2.8% of the company's stock are sold short.

Institutional Trading of IAC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Greenwich Wealth Management LLC raised its stake in IAC by 3.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company's stock worth $451,000 after acquiring an additional 284 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company's stock valued at $833,000 after acquiring an additional 405 shares during the last quarter. CWM LLC raised its holdings in shares of IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company's stock worth $54,000 after purchasing an additional 408 shares during the last quarter. Victory Capital Management Inc. lifted its position in IAC by 1.6% during the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company's stock valued at $1,705,000 after purchasing an additional 490 shares during the period. Finally, GAMMA Investing LLC grew its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company's stock worth $53,000 after purchasing an additional 492 shares during the period. Institutional investors own 88.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IAC shares. Benchmark reiterated a "buy" rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Truist Financial decreased their price objective on shares of IAC from $88.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Macquarie reissued an "outperform" rating and set a $14.00 price target on shares of IAC in a report on Thursday, November 14th. Barclays decreased their target price on IAC from $70.00 to $66.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, IAC currently has an average rating of "Moderate Buy" and a consensus price target of $68.33.

IAC Trading Down 1.5 %

NASDAQ IAC traded down $0.66 on Tuesday, hitting $44.11. 591,170 shares of the stock were exchanged, compared to its average volume of 662,859. 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 firm has a market capitalization of $3.55 billion, a P/E ratio of -104.12 and a beta of 1.31. IAC has a 52-week low of $43.51 and a 52-week high of $58.29. The stock has a fifty day moving average price of $49.74 and a two-hundred day moving average price of $50.01.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate 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 company had revenue of $938.70 million during the quarter, compared to analysts' expectations of $922.62 million. During the same period in the prior year, the business earned ($0.30) EPS. The company's quarterly revenue was down 15.5% on a year-over-year basis. Research analysts forecast that IAC will post -3.97 EPS 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.