Investors Buy Large Volume of Call Options on IAC/InterActiveCorp (IAC)
IAC/InterActiveCorp (NASDAQ:IAC) was the target of unusually large options trading on Wednesday. Investors acquired 10,461 call options on the company. This represents an increase of 7,480% compared to the typical daily volume of 138 call options.
Shares of IAC/InterActiveCorp (NASDAQ:IAC) opened at $126.97 on Monday. The firm has a market capitalization of $10,411.97, a price-to-earnings ratio of 32.06, a PEG ratio of 27.96 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.07 and a current ratio of 2.07. IAC/InterActiveCorp has a one year low of $64.69 and a one year high of $137.86.
IAC/InterActiveCorp (NASDAQ:IAC) last released its earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.14). The business had revenue of $828.40 million during the quarter, compared to analysts’ expectations of $810.36 million. IAC/InterActiveCorp had a net margin of 11.81% and a return on equity of 4.26%. IAC/InterActiveCorp’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 EPS. research analysts anticipate that IAC/InterActiveCorp will post 0.55 earnings per share for the current year.
A number of equities analysts recently issued reports on the company. BidaskClub raised IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. Goldman Sachs Group reaffirmed a “buy” rating and set a $150.00 price target on shares of IAC/InterActiveCorp in a research note on Wednesday, October 11th. Needham & Company LLC increased their price target on IAC/InterActiveCorp from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 10th. ValuEngine lowered IAC/InterActiveCorp from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Guggenheim reaffirmed a “buy” rating and set a $135.00 price target (up from $130.00) on shares of IAC/InterActiveCorp in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company. IAC/InterActiveCorp has an average rating of “Buy” and a consensus price target of $142.76.
In other news, CEO Joseph Levin sold 78,500 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $128.83, for a total transaction of $10,113,155.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David S. Rosenblatt sold 6,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $133.00, for a total value of $798,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 113,676 shares of company stock worth $14,598,610 over the last quarter. Insiders own 10.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IAC. Fieldpoint Private Securities LLC purchased a new stake in shares of IAC/InterActiveCorp during the third quarter worth $105,000. ClariVest Asset Management LLC purchased a new stake in shares of IAC/InterActiveCorp during the second quarter worth $133,000. FNY Partners Fund LP purchased a new stake in shares of IAC/InterActiveCorp during the second quarter worth $152,000. First Mercantile Trust Co. purchased a new stake in shares of IAC/InterActiveCorp during the second quarter worth $193,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of IAC/InterActiveCorp during the second quarter worth $205,000. Institutional investors own 86.61% of the company’s stock.
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IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.
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