IAC Inc. (NASDAQ:IAC) Sees Large Increase in Short Interest

IAC Inc. (NASDAQ:IAC - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 4,950,000 shares, a growth of 18.4% from the April 30th total of 4,180,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 6.9% of the company's stock are sold short.

Institutional Investors Weigh In On IAC

Several hedge funds have recently made changes to their positions in IAC. TD Private Client Wealth LLC lifted its stake in IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock worth $27,000 after purchasing an additional 429 shares during the period. Aster Capital Management DIFC Ltd lifted its stake in IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after purchasing an additional 457 shares during the period. Parallel Advisors LLC lifted its stake in IAC by 1,422.0% during the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after purchasing an additional 583 shares during the period. Fifth Third Bancorp lifted its stake in IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after purchasing an additional 507 shares during the period. Finally, Versant Capital Management Inc lifted its stake in IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after purchasing an additional 369 shares during the period. Institutional investors own 88.90% of the company's stock.

IAC Stock Performance

Shares of NASDAQ:IAC traded down $0.29 during midday trading on Friday, hitting $35.98. The company's stock had a trading volume of 1,051,411 shares, compared to its average volume of 808,788. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -5.52 and a beta of 1.23. The stock's 50 day simple moving average is $35.69 and its 200 day simple moving average is $41.58. IAC has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80.

IAC (NASDAQ:IAC - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating the consensus estimate of ($3.94) by $1.14. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The business had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm's revenue was down 8.6% on a year-over-year basis. As a group, research analysts anticipate that IAC will post 0.43 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on IAC. Barclays cut their price objective on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Piper Sandler cut their target price on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Oppenheimer cut their price objective on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Benchmark cut their price objective on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Citigroup reduced their target price on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $55.38.

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.