IAC/InterActiveCorp (NASDAQ:IAC) Sets New 1-Year High at $270.24

IAC/InterActiveCorp (NASDAQ:IAC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $270.24 and last traded at $270.24, with a volume of 44681 shares traded. The stock had previously closed at $265.17.

A number of research firms have recently issued reports on IAC. Benchmark lowered their target price on IAC/InterActiveCorp from $300.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, November 8th. BTIG Research lowered IAC/InterActiveCorp from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Aegis reiterated a “buy” rating and issued a $313.00 target price on shares of IAC/InterActiveCorp in a research note on Friday, December 20th. Wedbush began coverage on IAC/InterActiveCorp in a research note on Monday, December 23rd. They issued an “outperform” rating and a $295.00 target price for the company. Finally, Credit Suisse Group lowered their target price on IAC/InterActiveCorp from $284.00 to $256.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $282.52.

The business has a 50 day simple moving average of $238.20 and a two-hundred day simple moving average of $234.37. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 0.82. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 48.41, a price-to-earnings-growth ratio of 1.36 and a beta of 0.90.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its earnings results on Wednesday, November 6th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.02 by $0.33. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. IAC/InterActiveCorp had a return on equity of 11.57% and a net margin of 11.25%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. Research analysts anticipate that IAC/InterActiveCorp will post 4.5 EPS for the current fiscal year.

In other news, CFO Glenn Schiffman sold 2,000 shares of IAC/InterActiveCorp stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $221.72, for a total value of $443,440.00. Following the completion of the transaction, the chief financial officer now owns 2,000 shares in the company, valued at approximately $443,440. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 9,000 shares of company stock valued at $2,203,270. Insiders own 11.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of IAC. Nuveen Asset Management LLC grew its position in shares of IAC/InterActiveCorp by 1,446.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,086,359 shares of the company’s stock worth $671,375,000 after acquiring an additional 2,886,801 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of IAC/InterActiveCorp by 10.6% in the 2nd quarter. BlackRock Inc. now owns 6,418,237 shares of the company’s stock worth $1,396,160,000 after purchasing an additional 615,478 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of IAC/InterActiveCorp by 4.1% in 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 purchasing an additional 533,168 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of IAC/InterActiveCorp by 145.8% in the 2nd quarter. Bank of America Corp DE now owns 850,163 shares of the company’s stock worth $184,936,000 after purchasing an additional 504,269 shares during the last quarter. Finally, Luxor Capital Group LP lifted its holdings in shares of IAC/InterActiveCorp by 52.7% in the 3rd quarter. Luxor Capital Group LP now owns 1,407,001 shares of the company’s stock worth $306,684,000 after purchasing an additional 485,318 shares during the last quarter. Institutional investors own 89.46% of the company’s stock.

About IAC/InterActiveCorp (NASDAQ:IAC)

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.

Further Reading: The limitations of an equal weight rating

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