IAC/InterActiveCorp (NASDAQ:IAC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
Several other research analysts have also recently weighed in on the company. Barclays boosted their target price on IAC/InterActiveCorp to $244.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. Credit Suisse Group boosted their target price on IAC/InterActiveCorp from $183.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. ValuEngine upgraded IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. BMO Capital Markets restated a “buy” rating and set a $216.00 target price on shares of IAC/InterActiveCorp in a report on Friday, July 13th. Finally, Guggenheim cut IAC/InterActiveCorp from a “buy” rating to a “neutral” rating in a report on Friday, September 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $211.75.
IAC stock opened at $201.86 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.78 and a current ratio of 2.78. IAC/InterActiveCorp has a 12-month low of $118.83 and a 12-month high of $223.54. The stock has a market capitalization of $16.08 billion, a P/E ratio of 262.16, a PEG ratio of 2.42 and a beta of 1.25.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $1.50. IAC/InterActiveCorp had a return on equity of 10.24% and a net margin of 13.09%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm posted $0.74 EPS. IAC/InterActiveCorp’s revenue was up 38.0% compared to the same quarter last year. As a group, analysts expect that IAC/InterActiveCorp will post 5.33 earnings per share for the current year.
In other news, CFO Glenn Schiffman sold 2,000 shares of IAC/InterActiveCorp stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $217.22, for a total transaction of $434,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.90% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV raised its position in shares of IAC/InterActiveCorp by 4.9% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 6,450 shares of the company’s stock valued at $1,398,000 after buying an additional 300 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of IAC/InterActiveCorp by 1.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,436 shares of the company’s stock valued at $4,641,000 after buying an additional 364 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of IAC/InterActiveCorp by 24.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,773 shares of the company’s stock valued at $601,000 after buying an additional 542 shares during the period. Keybank National Association OH raised its position in shares of IAC/InterActiveCorp by 11.7% during the 2nd quarter. Keybank National Association OH now owns 5,740 shares of the company’s stock valued at $875,000 after buying an additional 599 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of IAC/InterActiveCorp by 12.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,870 shares of the company’s stock valued at $895,000 after buying an additional 653 shares during the period. 86.08% of the stock is currently owned by hedge funds and other institutional investors.
IAC/InterActiveCorp Company Profile
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. It operates through Match Group, ANGI Homeservices, Video, Applications, and Publishing segments. The Match Group segment provides subscription dating products, which enable users to establish a profile and review the profiles of other users in 42 languages.
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