Stock Traders Purchase Large Volume of Put Options on IAC (NASDAQ:IAC)

IAC Inc. (NASDAQ:IAC - Get Free Report) saw unusually large options trading activity on Wednesday. Investors purchased 6,005 put options on the company. This represents an increase of 1,432% compared to the average volume of 392 put options.

Institutional Investors Weigh In On IAC

A number of institutional investors have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its stake in IAC by 113,402.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 14,552,095 shares of the company's stock worth $646,113,000 after purchasing an additional 14,539,274 shares in the last quarter. Vanguard Group Inc. raised its position in shares of IAC by 1.5% in the third quarter. Vanguard Group Inc. now owns 7,342,693 shares of the company's stock valued at $406,639,000 after buying an additional 109,526 shares in the last quarter. BlackRock Inc. boosted its stake in shares of IAC by 2.6% in the first quarter. BlackRock Inc. now owns 4,034,335 shares of the company's stock valued at $404,563,000 after buying an additional 101,945 shares during the period. Davis Selected Advisers grew its position in IAC by 16.9% during the third quarter. Davis Selected Advisers now owns 2,960,918 shares of the company's stock worth $149,201,000 after buying an additional 428,065 shares in the last quarter. Finally, Freshford Capital Management LLC increased its stake in IAC by 18.7% during the 4th quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company's stock worth $86,182,000 after acquiring an additional 259,000 shares during the period. Institutional investors own 88.90% of the company's stock.

IAC Stock Down 4.0 %

NASDAQ IAC traded down $2.11 during trading hours on Wednesday, hitting $50.03. 511,126 shares of the company traded hands, compared to its average volume of 556,254. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 21.02 and a beta of 1.32. IAC has a twelve month low of $41.39 and a twelve month high of $69.85. The business's 50-day moving average is $53.22 and its 200-day moving average is $50.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. Sell-side analysts anticipate that IAC will post -1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays upped their target price on shares of IAC from $62.00 to $72.00 and gave the company an "overweight" rating in a research report on Thursday, February 15th. UBS Group increased their target price on IAC from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. KeyCorp boosted their target price on IAC from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 13th. Finally, Truist Financial increased their price target on shares of IAC from $77.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, IAC currently has an average rating of "Moderate Buy" and a consensus target price of $78.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.