IAC/InterActiveCorp (NASDAQ:IAC) Earns Overweight Rating from Analysts at KeyCorp

KeyCorp initiated coverage on shares of IAC/InterActiveCorp (NASDAQ:IAC) in a research report report published on Monday, Benzinga reports. The brokerage issued an overweight rating and a $160.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Goldman Sachs Group began coverage on shares of IAC/InterActiveCorp in a research report on Wednesday, July 8th. They set a neutral rating for the company. Bank of America reduced their price objective on shares of IAC/InterActiveCorp from $381.00 to $148.00 and set a buy rating for the company in a research report on Monday, July 13th. Credit Suisse Group lifted their price objective on shares of IAC/InterActiveCorp from $92.00 to $160.00 and gave the stock an outperform rating in a research report on Wednesday, August 19th. BidaskClub raised IAC/InterActiveCorp from a buy rating to a strong-buy rating in a report on Saturday, June 27th. Finally, Wells Fargo & Company reissued a buy rating on shares of IAC/InterActiveCorp in a report on Friday, July 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $211.70.

NASDAQ:IAC opened at $121.89 on Monday. IAC/InterActiveCorp has a 1-year low of $100.22 and a 1-year high of $137.97. The firm has a fifty day simple moving average of $128.57 and a 200 day simple moving average of $189.28.

IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings data on Monday, August 10th. The company reported ($1.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.95). The business had revenue of $726.40 million for the quarter, compared to analysts’ expectations of $771.01 million. During the same period last year, the business posted $0.16 earnings per share. IAC/InterActiveCorp’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that IAC/InterActiveCorp will post -4.76 EPS for the current year.

In other news, CAO Michael H. Schwerdtman sold 3,097 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $121.95, for a total transaction of $377,679.15. Following the sale, the chief accounting officer now directly owns 9,781 shares in the company, valued at $1,192,792.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael D. Eisner purchased 40,555 shares of IAC/InterActiveCorp stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $122.85 per share, for a total transaction of $4,982,181.75. Following the completion of the acquisition, the director now owns 40,821 shares of the company’s stock, valued at approximately $5,014,859.85. The disclosure for this purchase can be found here.

Several large investors have recently added to or reduced their stakes in IAC. Nuveen Asset Management LLC grew its holdings in shares of IAC/InterActiveCorp by 54.0% during the second quarter. Nuveen Asset Management LLC now owns 3,299,597 shares of the company’s stock worth $268,456,000 after purchasing an additional 1,156,545 shares during the last quarter. Capital Research Global Investors bought a new stake in IAC/InterActiveCorp in the first quarter valued at approximately $116,874,000. Aristeia Capital LLC boosted its holdings in IAC/InterActiveCorp by 33.0% in the first quarter. Aristeia Capital LLC now owns 2,070,596 shares of the company’s stock valued at $371,113,000 after acquiring an additional 513,537 shares during the last quarter. Lone Pine Capital LLC boosted its holdings in IAC/InterActiveCorp by 104.2% in the first quarter. Lone Pine Capital LLC now owns 812,017 shares of the company’s stock valued at $145,538,000 after acquiring an additional 414,278 shares during the last quarter. Finally, Whitebox Advisors LLC boosted its holdings in IAC/InterActiveCorp by 82.0% in the first quarter. Whitebox Advisors LLC now owns 874,343 shares of the company’s stock valued at $156,708,000 after acquiring an additional 393,880 shares during the last quarter. Institutional investors own 1.38% 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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Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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