IAC/InterActiveCorp (NASDAQ:IAC) Short Interest Up 15.0% in August

IAC/InterActiveCorp (NASDAQ:IAC) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 4,639,900 shares, an increase of 15.0% from the July 31st total of 4,035,600 shares. Currently, 6.0% of the shares of the stock are short sold. Based on an average daily volume of 718,300 shares, the short-interest ratio is presently 6.5 days.

Shares of NASDAQ:IAC traded down $2.57 during trading hours on Friday, hitting $227.39. The company’s stock had a trading volume of 498,567 shares, compared to its average volume of 766,339. IAC/InterActiveCorp has a 52 week low of $158.29 and a 52 week high of $268.72. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.11 and a quick ratio of 4.11. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 40.68 and a beta of 0.94. The firm’s fifty day moving average price is $246.98 and its 200 day moving average price is $228.35.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.27. IAC/InterActiveCorp had a net margin of 11.99% and a return on equity of 12.44%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm earned $2.32 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that IAC/InterActiveCorp will post 4.4 earnings per share for the current fiscal year.

IAC has been the subject of several analyst reports. Nomura raised their target price on shares of IAC/InterActiveCorp from $282.00 to $314.00 and gave the stock a “buy” rating in a report on Friday, August 9th. SunTrust Banks raised their target price on shares of IAC/InterActiveCorp from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group raised their target price on shares of IAC/InterActiveCorp from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Credit Suisse Group raised their target price on shares of IAC/InterActiveCorp from $263.00 to $284.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, BMO Capital Markets raised their target price on shares of IAC/InterActiveCorp from $319.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $288.42.

In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of IAC/InterActiveCorp stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $225.00, for a total value of $225,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael H. Schwerdtman sold 6,676 shares of IAC/InterActiveCorp stock in a transaction on Friday, August 9th. The stock was sold at an average price of $255.55, for a total transaction of $1,706,051.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,781 shares of company stock valued at $46,309,265. Corporate insiders own 11.50% of the company’s stock.

Several institutional investors have recently modified their holdings of IAC. Nuveen Asset Management LLC grew its position in IAC/InterActiveCorp by 1,446.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,086,359 shares of the company’s stock worth $671,375,000 after purchasing an additional 2,886,801 shares during the last quarter. BlackRock Inc. lifted its stake in IAC/InterActiveCorp by 10.6% during the 2nd quarter. BlackRock Inc. now owns 6,418,237 shares of the company’s stock valued at $1,396,160,000 after acquiring an additional 615,478 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in IAC/InterActiveCorp by 4.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,458,468 shares of the company’s stock valued at $2,927,621,000 after acquiring an additional 533,168 shares during the period. Bank of America Corp DE lifted its stake in IAC/InterActiveCorp by 145.8% during the 2nd quarter. Bank of America Corp DE now owns 850,163 shares of the company’s stock valued at $184,936,000 after acquiring an additional 504,269 shares during the period. Finally, Luxor Capital Group LP lifted its stake in IAC/InterActiveCorp by 110.1% during the 2nd quarter. Luxor Capital Group LP now owns 921,683 shares of the company’s stock valued at $200,494,000 after acquiring an additional 483,020 shares during the period. 89.88% 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. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.

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