IAC/InterActiveCorp (IAC) Downgraded by Zacks Investment Research to Sell
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. “
IAC has been the subject of several other research reports. SunTrust Banks initiated coverage on IAC/InterActiveCorp in a research report on Tuesday, December 18th. They set a “buy” rating and a $237.00 price objective for the company. BidaskClub raised IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 28th. Bank of America cut their price objective on IAC/InterActiveCorp from $240.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, January 8th. ValuEngine raised IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 29th. Finally, Goldman Sachs Group initiated coverage on IAC/InterActiveCorp in a research report on Monday, February 4th. They set a “neutral” rating and a $226.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company’s stock. IAC/InterActiveCorp has an average rating of “Buy” and an average target price of $240.83.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings results on Thursday, February 7th. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $1.05. IAC/InterActiveCorp had a return on equity of 16.11% and a net margin of 14.71%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts predict that IAC/InterActiveCorp will post 4.22 EPS for the current fiscal year.
In related news, CFO Glenn Schiffman sold 1,000 shares of the business’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director David S. Rosenblatt sold 4,528 shares of the business’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $220.64, for a total value of $999,057.92. The disclosure for this sale can be found here. Insiders have sold 11,528 shares of company stock worth $2,466,478 over the last 90 days. Corporate insiders own 10.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Scout Investments Inc. boosted its holdings in shares of IAC/InterActiveCorp by 1.2% in the 1st quarter. Scout Investments Inc. now owns 129,428 shares of the company’s stock worth $27,194,000 after acquiring an additional 1,523 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC acquired a new position in shares of IAC/InterActiveCorp in the 1st quarter worth approximately $289,000. Virtu Financial LLC acquired a new position in shares of IAC/InterActiveCorp in the 1st quarter worth approximately $2,810,000. First Manhattan Co. boosted its holdings in shares of IAC/InterActiveCorp by 1.0% in the 1st quarter. First Manhattan Co. now owns 1,195,514 shares of the company’s stock worth $251,189,000 after acquiring an additional 11,636 shares in the last quarter. Finally, Clarus Wealth Advisors acquired a new position in shares of IAC/InterActiveCorp in the 1st quarter worth approximately $208,000. Hedge funds and other institutional investors own 89.36% of the company’s stock.
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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