IAC/InterActiveCorp (IAC) Upgraded to Buy by Zacks Investment Research
IAC/InterActiveCorp (NASDAQ:IAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage currently has a $252.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 10.39% from the stock’s current price.
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. “
A number of other brokerages also recently commented on IAC. Nomura increased their price objective on IAC/InterActiveCorp from $206.00 to $239.00 and gave the company a “buy” rating in a research report on Monday, February 11th. Aegis restated a “buy” rating and issued a $300.00 target price (up previously from $250.00) on shares of IAC/InterActiveCorp in a report on Wednesday, March 20th. BidaskClub upgraded IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Jefferies Financial Group increased their target price on IAC/InterActiveCorp from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. increased their target price on IAC/InterActiveCorp from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $242.83.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings data on Thursday, February 7th. The company reported $2.04 EPS for the quarter, beating 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 the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that IAC/InterActiveCorp will post 4.22 EPS for the current fiscal year.
In related news, CFO Glenn Schiffman sold 3,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $224.98, for a total transaction of $674,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David S. Rosenblatt sold 4,528 shares of the 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. Insiders sold 12,528 shares of company stock valued at $2,748,798 in the last 90 days. Corporate insiders own 10.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank raised its holdings in shares of IAC/InterActiveCorp by 23.2% during the fourth quarter. Toronto Dominion Bank now owns 10,427 shares of the company’s stock worth $1,908,000 after acquiring an additional 1,965 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of IAC/InterActiveCorp by 72.7% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 37,430 shares of the company’s stock worth $6,851,000 after acquiring an additional 15,760 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of IAC/InterActiveCorp by 4.2% during the fourth quarter. APG Asset Management N.V. now owns 19,800 shares of the company’s stock worth $3,170,000 after acquiring an additional 800 shares in the last quarter. LPL Financial LLC raised its holdings in shares of IAC/InterActiveCorp by 90.4% during the fourth quarter. LPL Financial LLC now owns 5,724 shares of the company’s stock worth $1,048,000 after acquiring an additional 2,718 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of IAC/InterActiveCorp by 29.0% during the third quarter. Nordea Investment Management AB now owns 3,014 shares of the company’s stock worth $653,000 after acquiring an additional 678 shares in the last quarter. Institutional investors and hedge funds 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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