Short Interest in IAC Inc. (NASDAQ:IAC) Increases By 18.7%

IAC Inc. (NASDAQ:IAC - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 3,560,000 shares, an increase of 18.7% from the March 15th total of 3,000,000 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 3.2 days.

IAC Trading Down 0.4 %

IAC stock traded down $0.12 during midday trading on Monday, reaching $32.90. 760,944 shares of the company's stock traded hands, compared to its average volume of 834,047. IAC has a fifty-two week low of $32.05 and a fifty-two week high of $58.29. The business has a 50-day moving average price of $42.62 and a two-hundred day moving average price of $45.17. The company has a market capitalization of $2.55 billion, a P/E ratio of -5.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd lifted its position in IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after acquiring an additional 457 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of IAC by 1,422.0% during the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after purchasing an additional 583 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of IAC by 426.1% in the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after purchasing an additional 507 shares during the period. Versant Capital Management Inc increased its stake in IAC by 118.6% during the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after buying an additional 369 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after buying an additional 520 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on IAC. JMP Securities reduced their price objective on IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Citigroup lifted their target price on shares of IAC from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Truist Financial dropped their price objective on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. KeyCorp increased their target price on IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Finally, Benchmark reduced their price objective on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.31.

About IAC

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.

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