IAC/InterActiveCorp (NASDAQ:IAC) Cut to “Hold” at BidaskClub

BidaskClub cut shares of IAC/InterActiveCorp (NASDAQ:IAC) from a buy rating to a hold rating in a report released on Tuesday, BidAskClub reports.

A number of other research firms have also commented on IAC. SunTrust Banks upped their price target on IAC/InterActiveCorp from $250.00 to $265.00 and gave the company a buy rating in a research report on Friday, August 9th. Credit Suisse Group upped their price target on IAC/InterActiveCorp from $263.00 to $284.00 and gave the company an outperform rating in a research report on Friday, August 9th. Oppenheimer upped their price target on IAC/InterActiveCorp from $285.00 to $310.00 and gave the company an outperform rating in a research report on Friday, August 9th. Wells Fargo & Co reiterated a buy rating on shares of IAC/InterActiveCorp in a research report on Friday, August 9th. Finally, Nomura upped their price target on IAC/InterActiveCorp from $282.00 to $314.00 and gave the company a buy rating in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. IAC/InterActiveCorp currently has an average rating of Buy and an average target price of $288.42.

IAC stock traded down $0.47 during midday trading on Tuesday, reaching $229.49. 15,516 shares of the stock were exchanged, compared to its average volume of 787,200. The stock has a market capitalization of $19.47 billion, a PE ratio of 40.98 and a beta of 0.94. IAC/InterActiveCorp has a 52 week low of $158.29 and a 52 week high of $268.72. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.11 and a quick ratio of 4.11. The company has a fifty day moving average price of $247.27 and a 200 day moving average price of $228.30.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.27. IAC/InterActiveCorp had a return on equity of 12.44% and a net margin of 11.99%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $2.32 EPS. IAC/InterActiveCorp’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that IAC/InterActiveCorp will post 4.4 earnings per share for the current fiscal year.

In other news, CEO Joseph Levin sold 56,703 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $240.78, for a total value of $13,652,948.34. Following the transaction, the chief executive officer now directly owns 222,263 shares of the company’s stock, valued at approximately $53,516,485.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael H. Schwerdtman sold 6,676 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $255.55, for a total value of $1,706,051.80. The disclosure for this sale can be found here. Insiders sold a total of 185,781 shares of company stock worth $46,309,265 over the last three months. 11.50% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in IAC/InterActiveCorp by 4.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,458,468 shares of the company’s stock worth $2,927,621,000 after buying an additional 533,168 shares during the period. Vanguard Group Inc. raised its stake in IAC/InterActiveCorp by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,033,024 shares of the company’s stock worth $1,529,893,000 after buying an additional 213,132 shares during the period. BlackRock Inc. raised its stake in IAC/InterActiveCorp by 10.6% during the 2nd quarter. BlackRock Inc. now owns 6,418,237 shares of the company’s stock worth $1,396,160,000 after buying an additional 615,478 shares during the period. Nuveen Asset Management LLC raised its stake in IAC/InterActiveCorp by 1,446.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,086,359 shares of the company’s stock worth $671,375,000 after buying an additional 2,886,801 shares during the period. Finally, First Manhattan Co. raised its stake in IAC/InterActiveCorp by 15.7% during the 2nd quarter. First Manhattan Co. now owns 1,383,359 shares of the company’s stock worth $300,922,000 after buying an additional 187,845 shares during the period. 89.88% of the stock is currently 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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Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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