IAC/InterActiveCorp (NASDAQ:IAC) had its price objective increased by BMO Capital Markets from $160.00 to $172.00 in a report released on Tuesday. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 22.65% from the stock’s current price.
IAC has been the subject of several other reports. BidaskClub raised shares of IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. Goldman Sachs Group reissued a “buy” rating and set a $150.00 target price on shares of IAC/InterActiveCorp in a research note on Wednesday, October 11th. Needham & Company LLC increased their target price on shares of IAC/InterActiveCorp from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research raised shares of IAC/InterActiveCorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, ValuEngine lowered shares of IAC/InterActiveCorp from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $148.14.
Shares of IAC/InterActiveCorp (NASDAQ:IAC) remained flat at $$140.24 during trading hours on Tuesday. The company had a trading volume of 379,009 shares, compared to its average volume of 653,730. The company has a market capitalization of $11,845.05, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 4.46 and a beta of 1.38. IAC/InterActiveCorp has a one year low of $72.00 and a one year high of $146.90. 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 (NASDAQ:IAC) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.14). The company had revenue of $828.40 million during the quarter, compared to analyst estimates of $810.36 million. IAC/InterActiveCorp had a return on equity of 4.26% and a net margin of 11.81%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. sell-side analysts expect that IAC/InterActiveCorp will post 0.55 earnings per share for the current year.
In other IAC/InterActiveCorp news, CEO Joseph Levin sold 78,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $128.83, for a total value of $10,113,155.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark J. Stein sold 26,887 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $126.68, for a total transaction of $3,406,045.16. The disclosure for this sale can be found here. Insiders have sold 175,929 shares of company stock worth $22,516,569 in the last 90 days. 11.30% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Cheyne Capital Management UK LLP acquired a new position in IAC/InterActiveCorp in the 3rd quarter valued at approximately $418,000. Canada Pension Plan Investment Board increased its stake in IAC/InterActiveCorp by 6.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,383,327 shares of the company’s stock valued at $397,812,000 after buying an additional 208,227 shares during the period. Boston Partners increased its stake in IAC/InterActiveCorp by 0.8% in the 3rd quarter. Boston Partners now owns 3,074,055 shares of the company’s stock valued at $361,448,000 after buying an additional 23,366 shares during the period. First Manhattan Co. increased its stake in IAC/InterActiveCorp by 0.7% in the 4th quarter. First Manhattan Co. now owns 618,786 shares of the company’s stock valued at $75,665,000 after buying an additional 4,331 shares during the period. Finally, Janus Henderson Group PLC increased its stake in IAC/InterActiveCorp by 52.2% in the 2nd quarter. Janus Henderson Group PLC now owns 581,385 shares of the company’s stock valued at $60,025,000 after buying an additional 199,511 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.
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IAC/InterActiveCorp Company Profile
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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