IAC/InterActiveCorp (NASDAQ:IAC) Stock Rating Lowered by Zacks Investment Research
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 issued reports on IAC. Jefferies Financial Group increased their target price on shares of IAC/InterActiveCorp from $260.00 to $270.00 and gave the stock a buy rating in a report on Thursday, April 18th. BMO Capital Markets increased their target price on shares of Air Products & Chemicals to $235.00 and gave the stock an outperform rating in a report on Monday, May 13th. Bank of America reissued a hold rating on shares of TELUS in a report on Friday, May 10th. ValuEngine raised shares of ZIX from a buy rating to a strong-buy rating in a report on Saturday, May 4th. Finally, JPMorgan Chase & Co. set a €52.00 ($60.47) target price on shares of Vonovia and gave the stock a buy rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. IAC/InterActiveCorp has an average rating of Buy and a consensus price target of $266.77.
IAC/InterActiveCorp (NASDAQ:IAC) last released its earnings results on Wednesday, May 8th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.51. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. IAC/InterActiveCorp had a net margin of 14.74% and a return on equity of 16.05%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. Equities analysts forecast that IAC/InterActiveCorp will post 4.8 earnings per share for the current year.
In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $225.00, for a total transaction of $225,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 9,000 shares of company stock valued at $2,007,440. Insiders own 11.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. BBT Capital Management LLC purchased a new stake in IAC/InterActiveCorp during the 1st quarter valued at approximately $294,000. DekaBank Deutsche Girozentrale grew its holdings in IAC/InterActiveCorp by 1.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,103 shares of the company’s stock valued at $879,000 after buying an additional 49 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in IAC/InterActiveCorp by 3.4% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,030 shares of the company’s stock valued at $637,000 after buying an additional 100 shares in the last quarter. California State Teachers Retirement System grew its holdings in IAC/InterActiveCorp by 0.3% during the 1st quarter. California State Teachers Retirement System now owns 122,321 shares of the company’s stock valued at $25,701,000 after buying an additional 341 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of IAC/InterActiveCorp by 7.7% in the first quarter. FMR LLC now owns 528,661 shares of the company’s stock valued at $111,077,000 after purchasing an additional 37,868 shares in the last quarter. 89.43% 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. 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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