IAC/InterActiveCorp (IAC) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of IAC/InterActiveCorp (NASDAQ:IAC) from a buy rating to a hold rating in a research note issued to investors on Friday.

According to Zacks, “IAC is a leading media and Internet company. It is organized into four segments: The Match Group, which consists of dating, education and fitness businesses with brands such as Match.com, OkCupid, Tinder, The Princeton Review and DailyBurn; Search & Applications, which includes brands such as About.com, Ask.com, Dictionary.com and Investopedia; Media, which consists of businesses such as Vimeo, Electus, The Daily Beast and CollegeHumor; and eCommerce, which includes HomeAdvisor and ShoeBuy. IAC’s brands and products are among the most recognized in the world reaching users in over 200 countries. The Company is headquartered in New York City and has offices worldwide. “

IAC has been the topic of several other reports. Aegis lifted their price target on IAC/InterActiveCorp from $200.00 to $240.00 and gave the company a buy rating in a research report on Monday, August 13th. UBS Group lifted their price target on IAC/InterActiveCorp from $200.00 to $224.00 and gave the company a buy rating in a research report on Friday, August 10th. BidaskClub cut IAC/InterActiveCorp from a buy rating to a hold rating in a research report on Thursday, October 11th. JPMorgan Chase & Co. lifted their price target on IAC/InterActiveCorp from $186.00 to $220.00 and gave the company an overweight rating in a research report on Friday, August 10th. Finally, BMO Capital Markets reiterated a buy rating and set a $250.00 price target (up from $216.00) on shares of IAC/InterActiveCorp in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $216.89.

IAC traded up $0.24 during trading hours on Friday, hitting $186.55. The company’s stock had a trading volume of 1,856,447 shares, compared to its average volume of 910,872. IAC/InterActiveCorp has a fifty-two week low of $118.83 and a fifty-two week high of $223.54. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.78 and a quick ratio of 2.78. The stock has a market cap of $15.41 billion, a P/E ratio of 242.27, a P/E/G ratio of 2.32 and a beta of 1.35.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Wednesday, November 7th. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.03 by $0.46. IAC/InterActiveCorp had a return on equity of 16.15% and a net margin of 11.39%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $0.55 EPS. The firm’s revenue was up 33.3% compared to the same quarter last year. Equities analysts anticipate that IAC/InterActiveCorp will post 5.33 EPS for the current year.

In other news, CFO Glenn Schiffman sold 2,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $199.05, for a total transaction of $398,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IAC. Massachusetts Financial Services Co. MA acquired a new stake in shares of IAC/InterActiveCorp in the second quarter worth $12,722,000. Aperio Group LLC boosted its position in shares of IAC/InterActiveCorp by 8.8% in the second quarter. Aperio Group LLC now owns 39,445 shares of the company’s stock worth $6,015,000 after buying an additional 3,186 shares during the period. TD Asset Management Inc. boosted its position in shares of IAC/InterActiveCorp by 6.4% in the second quarter. TD Asset Management Inc. now owns 98,934 shares of the company’s stock worth $15,086,000 after buying an additional 5,994 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of IAC/InterActiveCorp by 8.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 257,291 shares of the company’s stock worth $39,234,000 after buying an additional 20,817 shares during the period. Finally, First Manhattan Co. boosted its position in shares of IAC/InterActiveCorp by 39.1% in the second quarter. First Manhattan Co. now owns 917,744 shares of the company’s stock worth $139,946,000 after buying an additional 258,141 shares during the period. 86.13% 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. 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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