IAC/InterActiveCorp (NASDAQ:IAC) Cut to “Hold” at ValuEngine

ValuEngine cut shares of IAC/InterActiveCorp (NASDAQ:IAC) from a buy rating to a hold rating in a research note published on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently weighed in on the stock. Barclays lifted their target price on shares of IAC/InterActiveCorp from $295.00 to $311.00 and gave the company an overweight rating in a research note on Friday, August 9th. Zacks Investment Research lowered shares of IAC/InterActiveCorp from a hold rating to a sell rating in a research note on Thursday. SunTrust Banks lifted their target price on shares of IAC/InterActiveCorp from $250.00 to $265.00 and gave the company a buy rating in a research note on Friday, August 9th. Nomura lifted their target price on shares of IAC/InterActiveCorp from $282.00 to $314.00 and gave the company a buy rating in a research note on Friday, August 9th. Finally, Oppenheimer lifted their target price on shares of IAC/InterActiveCorp from $285.00 to $310.00 and gave the company an outperform rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the stock. IAC/InterActiveCorp has an average rating of Buy and a consensus target price of $292.37.

NASDAQ IAC traded down $0.52 on Thursday, hitting $226.51. 589,826 shares of the stock were exchanged, compared to its average volume of 772,387. 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 $18.97 billion, a price-to-earnings ratio of 40.52 and a beta of 0.90. The company’s 50-day moving average price is $235.71 and its two-hundred day moving average price is $230.04.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.18 billion. During the same period in the previous year, the company posted $2.32 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts predict that IAC/InterActiveCorp will post 4.4 EPS for the current fiscal year.

In related news, CFO Glenn Schiffman sold 1,000 shares of IAC/InterActiveCorp stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $256.72, for a total value of $256,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregg Winiarski sold 73,409 shares of IAC/InterActiveCorp stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $253.54, for a total transaction of $18,612,117.86. Following the completion of the sale, the executive vice president now directly owns 206,342 shares of the company’s stock, valued at approximately $52,315,950.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,781 shares of company stock valued at $46,305,995. 11.50% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position 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 worth $2,927,621,000 after acquiring an additional 533,168 shares during the last quarter. Vanguard Group Inc. lifted its position in IAC/InterActiveCorp by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,033,024 shares of the company’s stock worth $1,529,893,000 after acquiring an additional 213,132 shares during the last quarter. BlackRock Inc. lifted its position in IAC/InterActiveCorp by 10.6% during the 2nd quarter. BlackRock Inc. now owns 6,418,237 shares of the company’s stock worth $1,396,160,000 after acquiring an additional 615,478 shares during the last quarter. Nuveen Asset Management LLC lifted 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 acquiring an additional 2,886,801 shares during the last quarter. Finally, First Manhattan Co. lifted its position in IAC/InterActiveCorp by 15.7% during the 2nd quarter. First Manhattan Co. now owns 1,383,359 shares of the company’s stock worth $300,922,000 after acquiring an additional 187,845 shares during the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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