IAC/InterActiveCorp (NASDAQ:IAC) Short Interest Update

IAC/InterActiveCorp (NASDAQ:IAC) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 4,639,900 shares, a growth of 15.0% from the July 31st total of 4,035,600 shares. Currently, 6.0% of the shares of the stock are sold short. Based on an average daily volume of 718,300 shares, the days-to-cover ratio is currently 6.5 days.

IAC stock traded down $0.84 during mid-day trading on Friday, hitting $229.12. 17,359 shares of the company were exchanged, compared to its average volume of 787,200. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.11. The firm has a market cap of $19.47 billion, a P/E ratio of 40.98 and a beta of 0.94. The firm’s 50 day simple moving average is $247.27 and its 200 day simple moving average is $228.30. IAC/InterActiveCorp has a 1-year low of $158.29 and a 1-year high of $268.72.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.27. IAC/InterActiveCorp had a net margin of 11.99% and a return on equity of 12.44%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company earned $2.32 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that IAC/InterActiveCorp will post 4.4 EPS for the current fiscal year.



IAC has been the topic of several recent research reports. BidaskClub lowered shares of IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered shares of IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Nomura lifted their price objective on shares of IAC/InterActiveCorp from $282.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Barclays lifted their price objective on shares of IAC/InterActiveCorp from $295.00 to $311.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of IAC/InterActiveCorp in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. IAC/InterActiveCorp currently has an average rating of “Buy” and a consensus price target of $288.42.

In other IAC/InterActiveCorp news, SVP Michael H. Schwerdtman sold 6,676 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $255.55, for a total transaction of $1,706,051.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glenn Schiffman sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $220.69, for a total transaction of $441,380.00. The disclosure for this sale can be found here. Insiders have sold a total of 185,781 shares of company stock valued at $46,309,265 in the last quarter. 11.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of IAC. Next Capital Management LLC bought a new position in IAC/InterActiveCorp during the second quarter worth $28,000. Valeo Financial Advisors LLC bought a new position in IAC/InterActiveCorp during the second quarter worth $29,000. Icon Wealth Partners LLC bought a new position in IAC/InterActiveCorp during the first quarter worth $32,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in IAC/InterActiveCorp by 78.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock worth $42,000 after purchasing an additional 85 shares during the period. Finally, Meridian Wealth Management LLC bought a new position in IAC/InterActiveCorp during the first quarter worth $56,000. Institutional investors own 89.88% of the company’s stock.

About IAC/InterActiveCorp

IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.

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