IAC/InterActiveCorp (NASDAQ:IAC) Sees Significant Growth in Short Interest
IAC/InterActiveCorp (NASDAQ:IAC) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 3,723,200 shares, a growth of 10.3% from the May 30th total of 3,375,200 shares. Based on an average daily volume of 759,900 shares, the short-interest ratio is currently 4.9 days. Approximately 4.8% of the shares of the company are sold short.
In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $225.00, for a total transaction of $225,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 10,000 shares of company stock worth $2,232,440 in the last quarter. 11.50% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC purchased a new position in shares of IAC/InterActiveCorp during the 2nd quarter worth $29,000. Icon Wealth Partners LLC acquired a new stake in shares of IAC/InterActiveCorp during the 1st quarter worth $32,000. Winslow Evans & Crocker Inc. increased its holdings in shares of IAC/InterActiveCorp by 40.3% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock worth $48,000 after buying an additional 62 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of IAC/InterActiveCorp during the 1st quarter worth $56,000. Finally, Security National Trust Co. acquired a new stake in shares of IAC/InterActiveCorp during the 1st quarter worth $84,000. 89.51% of the stock is currently owned by institutional investors.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.51. IAC/InterActiveCorp had a return on equity of 16.05% and a net margin of 14.74%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts anticipate that IAC/InterActiveCorp will post 4.8 EPS for the current year.
Several equities research analysts have recently commented on IAC shares. JPMorgan Chase & Co. set a €52.00 ($60.47) price target on Vonovia and gave the stock a “buy” rating in a research note on Friday, May 10th. JMP Securities started coverage on Zoom Video Communications in a research note on Monday, May 13th. They set a “market perform” rating and a $79.63 price target on the stock. UBS Group set a $133.00 price target on LHC Group and gave the stock a “buy” rating in a research note on Friday, May 10th. Benchmark reissued a “buy” rating and set a $18.00 price target on shares of TEGNA in a research note on Friday, May 10th. Finally, Zacks Investment Research lowered G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. IAC/InterActiveCorp presently has an average rating of “Buy” and an average price target of $265.82.
IAC/InterActiveCorp Company Profile
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.
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