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

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

IAC Stock Performance

IAC traded up $1.13 during trading hours on Monday, hitting $48.46. 295,726 shares of the stock were exchanged, compared to its average volume of 663,443. The stock has a 50-day simple moving average of $51.04 and a 200-day simple moving average of $50.34. IAC has a 12 month low of $43.51 and a 12 month high of $58.29. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -110.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75.

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

Institutional Investors Weigh In On IAC

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in IAC in the second quarter valued at $39,000. Quarry LP lifted its stake in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after buying an additional 785 shares during the last quarter. GAMMA Investing LLC lifted its stake in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the last quarter. CWM LLC lifted its stake in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after buying an additional 408 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in IAC in the second quarter valued at $60,000. 88.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on IAC shares. Barclays lowered their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Citigroup lowered their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial decreased their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. KeyCorp decreased their price target on shares of IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Macquarie reissued an “outperform” rating and set a $14.00 price target on shares of IAC in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.36.

IAC Company Profile

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.