IAC/InterActiveCorp (NASDAQ:IAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
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. “
Several other research firms have also recently weighed in on IAC. BMO Capital Markets upped their price objective on shares of IAC/InterActiveCorp from $287.00 to $291.00 and gave the stock an “outperform” rating in a research report on Monday. Jefferies Financial Group increased their price target on shares of IAC/InterActiveCorp to $260.00 in a research report on Monday. Nomura increased their price target on shares of IAC/InterActiveCorp from $206.00 to $239.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer increased their price target on shares of IAC/InterActiveCorp from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price target on shares of IAC/InterActiveCorp to $250.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. IAC/InterActiveCorp presently has an average rating of “Buy” and an average price target of $235.54.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Thursday, February 7th. The company reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $1.05. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. IAC/InterActiveCorp had a net margin of 14.71% and a return on equity of 16.53%. IAC/InterActiveCorp’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. As a group, sell-side analysts predict that IAC/InterActiveCorp will post 4.85 earnings per share for the current year.
In related news, CFO Glenn Schiffman sold 1,000 shares of the firm’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 4,000 shares of company stock valued at $796,530 in the last ninety days. 10.90% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Csenge Advisory Group bought a new stake in IAC/InterActiveCorp in the 3rd quarter worth about $29,000. Lindbrook Capital LLC purchased a new position in shares of IAC/InterActiveCorp during the 4th quarter valued at about $34,000. Quantamental Technologies LLC purchased a new position in shares of IAC/InterActiveCorp during the 4th quarter valued at about $43,000. Athena Capital Advisors LLC purchased a new position in shares of IAC/InterActiveCorp during the 4th quarter valued at about $64,000. Finally, Riverview Trust Co purchased a new position in IAC/InterActiveCorp in the 4th quarter worth approximately $92,000. 88.67% of the stock is owned by institutional investors and hedge funds.
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. It operates through Match Group, ANGI Homeservices, Video, Applications, and Publishing segments. The Match Group segment provides subscription dating products, which enable users to establish a profile and review the profiles of other users in 42 languages.
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