IAC/InterActiveCorp (IAC) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of IAC/InterActiveCorp (NASDAQ:IAC) from a hold rating to a sell rating in a report released on Tuesday morning, Zacks.com reports.

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. “

Other research analysts also recently issued reports about the company. Jefferies Financial Group upped their target price on IAC/InterActiveCorp to $260.00 in a research note on Monday, February 11th. Bank of America reduced their target price on IAC/InterActiveCorp from $240.00 to $228.00 and set a buy rating for the company in a research note on Tuesday, January 8th. BidaskClub raised IAC/InterActiveCorp from a hold rating to a buy rating in a research note on Friday, December 28th. SunTrust Banks initiated coverage on IAC/InterActiveCorp in a research note on Tuesday, December 18th. They set a buy rating and a $237.00 target price for the company. Finally, Nomura upped their target price on IAC/InterActiveCorp from $206.00 to $239.00 and gave the stock a buy rating in a research note on Monday, February 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $240.83.

IAC/InterActiveCorp stock opened at $216.00 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.13 and a current ratio of 3.13. IAC/InterActiveCorp has a 12 month low of $128.80 and a 12 month high of $224.63. The company has a market capitalization of $18.36 billion, a price-to-earnings ratio of 39.49, a P/E/G ratio of 2.54 and a beta of 1.08.

IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings data on Thursday, February 7th. The company reported $2.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $1.05. IAC/InterActiveCorp had a return on equity of 16.11% and a net margin of 14.71%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Sell-side analysts expect that IAC/InterActiveCorp will post 4.22 earnings per share for the current year.

In other IAC/InterActiveCorp 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Rosenblatt sold 4,528 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was 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. Over the last three months, insiders sold 11,528 shares of company stock valued at $2,466,478. 10.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of IAC. Morgan Stanley increased its stake in shares of IAC/InterActiveCorp by 153.4% in the 3rd quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock worth $318,880,000 after acquiring an additional 890,730 shares during the last quarter. Norges Bank acquired a new stake in shares of IAC/InterActiveCorp in the 4th quarter worth $152,540,000. BlackRock Inc. increased its stake in shares of IAC/InterActiveCorp by 16.8% in the 4th quarter. BlackRock Inc. now owns 5,259,290 shares of the company’s stock worth $962,663,000 after acquiring an additional 756,555 shares during the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of IAC/InterActiveCorp in the 3rd quarter worth $61,036,000. Finally, First Manhattan Co. increased its stake in shares of IAC/InterActiveCorp by 25.8% in the 4th quarter. First Manhattan Co. now owns 1,183,878 shares of the company’s stock worth $216,697,000 after acquiring an additional 242,519 shares during the last quarter. 89.37% of the stock is owned by institutional investors and hedge funds.

IAC/InterActiveCorp Company Profile

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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