IAC/InterActiveCorp (NASDAQ:IAC) Coverage Initiated at Citigroup

Citigroup assumed coverage on shares of IAC/InterActiveCorp (NASDAQ:IAC) in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $290.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets lifted their price objective on IAC/InterActiveCorp from $319.00 to $320.00 and gave the stock an outperform rating in a report on Friday, August 9th. Guggenheim upgraded IAC/InterActiveCorp from a neutral rating to a buy rating and set a $300.00 price objective for the company in a report on Friday, August 9th. Nomura lifted their price objective on IAC/InterActiveCorp from $282.00 to $314.00 and gave the stock a buy rating in a report on Friday, August 9th. Cowen set a $290.00 price objective on IAC/InterActiveCorp and gave the stock a buy rating in a report on Wednesday, July 31st. Finally, Aegis reiterated a buy rating and issued a $320.00 price objective on shares of IAC/InterActiveCorp in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $288.69.

IAC opened at $230.95 on Tuesday. The stock has a 50-day moving average price of $245.24 and a 200-day moving average price of $228.89. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.11 and a quick ratio of 4.11. The firm has a market cap of $19.66 billion, a PE ratio of 50.49 and a beta of 0.94. IAC/InterActiveCorp has a 1 year low of $158.29 and a 1 year high of $268.72.

IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.92 by $0.27. IAC/InterActiveCorp had a return on equity of 12.44% and a net margin of 11.99%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company earned $2.32 EPS. IAC/InterActiveCorp’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that IAC/InterActiveCorp will post 4.4 EPS for the current year.

In related news, SVP Michael H. Schwerdtman sold 6,676 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $255.55, for a total transaction of $1,706,051.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark J. Stein sold 38,993 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $254.77, for a total value of $9,934,246.61. Following the transaction, the executive vice president now owns 111,451 shares of the company’s stock, valued at $28,394,371.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,781 shares of company stock valued at $46,309,265. Corporate insiders own 11.50% of the company’s stock.

Several large investors have recently made changes to their positions in IAC. Nuveen Asset Management LLC grew its stake in shares of IAC/InterActiveCorp by 1,446.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,086,359 shares of the company’s stock valued at $671,375,000 after acquiring an additional 2,886,801 shares during the period. BlackRock Inc. lifted its holdings in IAC/InterActiveCorp by 10.6% in the 2nd quarter. BlackRock Inc. now owns 6,418,237 shares of the company’s stock worth $1,396,160,000 after purchasing an additional 615,478 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in IAC/InterActiveCorp by 4.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,458,468 shares of the company’s stock worth $2,927,621,000 after purchasing an additional 533,168 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of IAC/InterActiveCorp by 145.8% during the 2nd quarter. Bank of America Corp DE now owns 850,163 shares of the company’s stock worth $184,936,000 after acquiring an additional 504,269 shares in the last quarter. Finally, Luxor Capital Group LP raised its holdings in shares of IAC/InterActiveCorp by 110.1% during the 2nd quarter. Luxor Capital Group LP now owns 921,683 shares of the company’s stock worth $200,494,000 after acquiring an additional 483,020 shares in the last quarter. Institutional investors own 89.71% 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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