IAC/InterActiveCorp (IAC) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of IAC/InterActiveCorp (NASDAQ:IAC) from a strong sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “IAC is a leading media and Internet company. It is organized into four segments: The Match Group, which consists of dating, education and fitness businesses with brands such as Match.com, OkCupid, Tinder, The Princeton Review and DailyBurn; Search & Applications, which includes brands such as About.com, Ask.com, Dictionary.com and Investopedia; Media, which consists of businesses such as Vimeo, Electus, The Daily Beast and CollegeHumor; and eCommerce, which includes HomeAdvisor and ShoeBuy. IAC’s brands and products are among the most recognized in the world reaching users in over 200 countries. The Company is headquartered in New York City and has offices worldwide. “

A number of other brokerages have also recently issued reports on IAC. Credit Suisse Group reissued a buy rating and issued a $151.00 price objective on shares of IAC/InterActiveCorp in a research note on Tuesday, January 9th. BidaskClub raised shares of IAC/InterActiveCorp from a hold rating to a buy rating in a research note on Saturday, January 6th. Wells Fargo & Co reissued an outperform rating and issued a $168.00 price objective (up from $150.00) on shares of IAC/InterActiveCorp in a research note on Monday, January 8th. Oppenheimer reissued a buy rating and issued a $141.00 price objective on shares of IAC/InterActiveCorp in a research note on Thursday, November 9th. Finally, Guggenheim reissued a buy rating and issued a $150.00 price objective on shares of IAC/InterActiveCorp in a research note on Friday, December 22nd. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $143.62.

IAC/InterActiveCorp (IAC) opened at $134.70 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.07 and a quick ratio of 2.07. IAC/InterActiveCorp has a 52-week low of $66.35 and a 52-week high of $137.86. The firm has a market cap of $11,040.00, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 4.13 and a beta of 1.09.

IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.14). The business had revenue of $828.40 million during the quarter, compared to the consensus estimate of $810.36 million. IAC/InterActiveCorp had a return on equity of 4.26% and a net margin of 11.81%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 earnings per share. sell-side analysts predict that IAC/InterActiveCorp will post 0.55 EPS for the current fiscal year.

In other IAC/InterActiveCorp news, CEO Joseph Levin sold 78,500 shares of IAC/InterActiveCorp stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $128.83, for a total value of $10,113,155.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Rosenblatt sold 6,000 shares of IAC/InterActiveCorp stock in a transaction on Monday, November 27th. The stock was sold at an average price of $133.00, for a total transaction of $798,000.00. The disclosure for this sale can be found here. Insiders have sold 175,929 shares of company stock valued at $22,516,569 over the last ninety days. 10.60% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of IAC. Cheyne Capital Management UK LLP purchased a new position in shares of IAC/InterActiveCorp in the 3rd quarter worth $418,000. Capital Research Global Investors purchased a new position in shares of IAC/InterActiveCorp in the 2nd quarter worth $94,773,000. Steadfast Capital Management LP grew its stake in shares of IAC/InterActiveCorp by 56.3% in the 2nd quarter. Steadfast Capital Management LP now owns 2,411,372 shares of the company’s stock worth $248,950,000 after buying an additional 868,790 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of IAC/InterActiveCorp by 359.0% in the 2nd quarter. Renaissance Technologies LLC now owns 802,027 shares of the company’s stock worth $82,801,000 after buying an additional 627,300 shares in the last quarter. Finally, Foxhaven Asset Management LP grew its stake in shares of IAC/InterActiveCorp by 69.0% in the 2nd quarter. Foxhaven Asset Management LP now owns 1,087,662 shares of the company’s stock worth $112,290,000 after buying an additional 444,188 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

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IAC/InterActiveCorp Company Profile

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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