IAC Inc. (NASDAQ:IAC) Short Interest Up 18.4% in May

IAC Inc. (NASDAQ:IAC - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 4,950,000 shares, an increase 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 short-interest ratio is currently 4.1 days. Currently, 6.9% of the company's stock are short sold.

IAC Stock Performance

IAC stock traded down $0.31 during trading hours on Thursday, hitting $36.27. 665,924 shares of the stock traded hands, compared to its average volume of 803,041. The firm's 50 day moving average price is $35.95 and its 200-day moving average price is $41.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -5.56 and a beta of 1.24. IAC has a 1 year low of $32.05 and a 1 year high of $55.40.

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

Analysts Set New Price Targets

Several research analysts have recently commented on IAC shares. Oppenheimer reduced their price target on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. KeyCorp decreased their price target on shares of IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Citigroup cut their price objective on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. JMP Securities decreased their target price on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group cut their price target on shares of IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, IAC currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.38.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IAC. TD Private Client Wealth LLC raised its stake in shares of IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after buying an additional 429 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings 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 acquiring an additional 457 shares during the period. Parallel Advisors LLC raised its position in IAC by 1,422.0% during the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after acquiring an additional 583 shares in the last quarter. Fifth Third Bancorp lifted its holdings in IAC by 426.1% in the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after acquiring an additional 507 shares during the period. Finally, Versant Capital Management Inc boosted its position in IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after purchasing an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

About IAC

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.

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