IAC Inc. (NASDAQ:IAC) Short Interest Up 18.7% in March

IAC Inc. (NASDAQ:IAC - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,560,000 shares, a growth of 18.7% from the March 15th total of 3,000,000 shares. Currently, 4.9% of the shares of the company are sold short. Based on an average trading volume of 1,100,000 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of IAC

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of IAC by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after acquiring an additional 43,772 shares in the last quarter. Southeastern Asset Management Inc. TN boosted its stake in IAC by 21.3% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock worth $118,719,000 after purchasing an additional 483,613 shares in the last quarter. Corvex Management LP grew its holdings in shares of IAC by 61.8% during the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock worth $103,983,000 after purchasing an additional 920,875 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in shares of IAC by 5.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock valued at $72,029,000 after buying an additional 84,121 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of IAC by 9.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock valued at $68,306,000 after buying an additional 130,604 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

IAC Price Performance

Shares of NASDAQ:IAC traded up $0.38 on Friday, hitting $35.55. The stock had a trading volume of 673,423 shares, compared to its average volume of 840,238. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -5.45 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The firm's 50 day moving average price is $41.40 and its 200-day moving average price is $44.61. IAC has a twelve month low of $32.05 and a twelve month high of $58.29.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group dropped their target price on shares of IAC from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a report on Tuesday. KeyCorp increased their target price on shares of IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. JMP Securities lowered their price target on IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial reduced their price objective on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.15.

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.