IAC Inc. (NASDAQ:IAC) Short Interest Update

IAC Inc. (NASDAQ:IAC) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 7,645,888 shares, a drop of 16.5% from the November 30th total of 9,160,500 shares. Based on an average trading volume of 991,900 shares, the days-to-cover ratio is currently 7.7 days. Currently, 12.7% of the company’s shares are sold short. Currently, 12.7% of the company’s shares are sold short. Based on an average trading volume of 991,900 shares, the days-to-cover ratio is currently 7.7 days.

IAC Price Performance

Shares of NASDAQ:IAC traded down $0.36 during midday trading on Wednesday, hitting $39.23. 348,384 shares of the stock were exchanged, compared to its average volume of 1,136,717. The company has a 50 day moving average price of $35.49 and a 200-day moving average price of $36.26. The stock has a market cap of $2.81 billion, a P/E ratio of -14.37 and a beta of 1.18. IAC has a twelve month low of $29.56 and a twelve month high of $50.49. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The company had revenue of $589.79 million for the quarter, compared to analyst estimates of $601.86 million. IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.The company’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.93) earnings per share. On average, research analysts forecast that IAC will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of IAC by 2.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,217 shares of the company’s stock worth $518,000 after purchasing an additional 300 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of IAC by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company’s stock worth $1,896,000 after acquiring an additional 316 shares during the period. GAMMA Investing LLC lifted its holdings in shares of IAC by 48.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock worth $42,000 after acquiring an additional 367 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of IAC by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 76,432 shares of the company’s stock worth $2,854,000 after acquiring an additional 410 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in IAC by 3.3% in the third quarter. Nisa Investment Advisors LLC now owns 15,182 shares of the company’s stock valued at $517,000 after purchasing an additional 482 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Oppenheimer downgraded shares of IAC from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. KeyCorp decreased their target price on IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. UBS Group lowered their price target on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Jefferies Financial Group increased their price target on IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Wall Street Zen cut shares of IAC from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and an average target price of $46.67.

About IAC

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data?driven journalism across more than a dozen specialty sites.