IAC Inc. (NASDAQ:IAC) Short Interest Update

IAC Inc. (NASDAQ:IAC - Get Free Report) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 3,070,000 shares, a drop of 6.4% from the August 15th total of 3,280,000 shares. Based on an average trading volume of 572,500 shares, the days-to-cover ratio is currently 5.4 days. Currently, 4.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IAC shares. Benchmark reiterated a "buy" rating and set a $110.00 target price on shares of IAC in a research note on Tuesday, August 27th. Truist Financial lifted their price objective on shares of IAC from $87.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. JMP Securities began coverage on shares of IAC in a research report on Tuesday, July 9th. They set an "outperform" rating and a $78.00 target price for the company. KeyCorp lowered their price target on shares of IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. Finally, Citigroup dropped their price objective on IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, IAC has an average rating of "Moderate Buy" and an average target price of $76.40.

IAC Price Performance

NASDAQ IAC traded up $0.58 during trading hours on Wednesday, hitting $54.05. The company had a trading volume of 517,494 shares, compared to its average volume of 687,578. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -33.98 and a beta of 1.32. IAC has a 52 week low of $41.39 and a 52 week high of $58.29. The firm has a 50 day simple moving average of $50.71 and a 200 day simple moving average of $50.52.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.39). The firm had revenue of $949.50 million for the quarter, compared to the consensus estimate of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The business's revenue was down 14.6% on a year-over-year basis. During the same period last year, the company posted ($0.76) EPS. Equities research analysts expect that IAC will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On IAC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAC. Riverview Trust Co bought a new stake in shares of IAC during the 1st quarter valued at about $27,000. International Assets Investment Management LLC bought a new stake in IAC during the second quarter valued at approximately $39,000. CWM LLC grew its stake 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. 1620 Investment Advisors Inc. bought a new position in shares of IAC in the 2nd quarter worth $60,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of IAC during the 1st quarter valued at $80,000. 88.90% of the stock is currently owned by hedge funds and other 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.