IAC Inc. (NASDAQ:IAC) Short Interest Down 8.5% in November

IAC Inc. (NASDAQ:IAC) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,930,000 shares, a decrease of 8.5% from the October 31st total of 2,110,000 shares. Based on an average daily volume of 549,900 shares, the days-to-cover ratio is currently 3.5 days. Currently, 2.6% of the shares of the stock are sold short.

IAC Trading Up 2.4 %

Shares of IAC stock traded up $1.13 during trading hours on Monday, hitting $48.46. 295,726 shares of the company were exchanged, compared to its average volume of 663,443. The firm has a market cap of $3.90 billion, a PE ratio of -110.07 and a beta of 1.33. IAC has a 1 year low of $43.51 and a 1 year high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $51.04 and a 200 day moving average of $50.34.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) earnings per share. Analysts expect that IAC will post -3.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Macquarie reaffirmed an “outperform” rating and set a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. KeyCorp lowered their price target on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. UBS Group upgraded shares of IAC to a “hold” rating in a research report on Monday, October 28th. Finally, Citigroup decreased their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.36.

Institutional Trading of IAC

A number of institutional investors and hedge funds have recently bought and sold shares of IAC. Principal Financial Group Inc. increased its position in IAC by 5,474.2% during the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after purchasing an additional 337,268 shares in the last quarter. DME Capital Management LP acquired a new stake in IAC during the 2nd quarter worth approximately $13,655,000. Bank of New York Mellon Corp increased its position in IAC by 113.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after purchasing an additional 282,304 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in IAC during the 2nd quarter worth approximately $7,200,000. Finally, Marshall Wace LLP acquired a new stake in IAC in the second quarter valued at approximately $5,644,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.