Short Interest in IAC/InterActiveCorp (IAC) Grows By 42.8%

IAC/InterActiveCorp (NASDAQ:IAC) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 1,336,828 shares, an increase of 42.8% from the August 15th total of 936,349 shares. Based on an average trading volume of 468,039 shares, the days-to-cover ratio is presently 2.9 days. Approximately 1.8% of the shares of the stock are short sold.

Shares of IAC/InterActiveCorp (IAC) opened at 114.62 on Tuesday. The company has a 50-day moving average of $108.50 and a 200 day moving average of $96.60. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 40.96 and a beta of 1.13. IAC/InterActiveCorp has a one year low of $59.10 and a one year high of $119.53.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.24. The business had revenue of $767.39 million for the quarter, compared to analyst estimates of $758.01 million. IAC/InterActiveCorp had a return on equity of 9.16% and a net margin of 7.66%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. Equities research analysts forecast that IAC/InterActiveCorp will post $3.07 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on IAC shares. BidaskClub raised shares of IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 8th. Guggenheim reaffirmed a “buy” rating and set a $130.00 target price (up previously from $120.00) on shares of IAC/InterActiveCorp in a research note on Monday. UBS AG reaffirmed a “buy” rating and set a $126.00 target price (up previously from $115.00) on shares of IAC/InterActiveCorp in a research note on Friday, August 4th. Wells Fargo & Company reaffirmed a “buy” rating on shares of IAC/InterActiveCorp in a research note on Thursday, August 3rd. Finally, TheStreet raised shares of IAC/InterActiveCorp from a “c+” rating to an “a-” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $108.95.

Institutional investors and hedge funds have recently bought and sold shares of the stock. ClariVest Asset Management LLC acquired a new stake in shares of IAC/InterActiveCorp during the second quarter valued at $133,000. FNY Partners Fund LP acquired a new stake in IAC/InterActiveCorp in the 2nd quarter worth about $152,000. First Mercantile Trust Co. acquired a new stake in IAC/InterActiveCorp in the 2nd quarter worth about $193,000. Engineers Gate Manager LP acquired a new stake in IAC/InterActiveCorp in the 1st quarter worth about $201,000. Finally, Virtu Financial LLC acquired a new stake in IAC/InterActiveCorp in the 2nd quarter worth about $201,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

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About IAC/InterActiveCorp

IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.

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