IAC/InterActiveCorp (NASDAQ:IAC) Lowered to Hold at 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 equities analysts have also recently weighed in on the company. JMP Securities initiated coverage on Zoom Video Communications in a report on Monday, May 13th. They issued a market perform rating and a $79.63 price objective for the company. Nomura dropped their price objective on CytomX Therapeutics to $22.00 in a report on Monday, May 13th. Wells Fargo & Co dropped their price objective on Nevro from $75.00 to $70.00 and set an outperform rating for the company in a report on Monday, May 13th. JPMorgan Chase & Co. set a €52.00 ($60.47) price target on Vonovia and gave the company a buy rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group lifted their price target on IAC/InterActiveCorp from $260.00 to $270.00 and gave the company a buy rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $265.82.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.51. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. IAC/InterActiveCorp had a return on equity of 16.05% and a net margin of 14.74%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS. As a group, equities research analysts expect that IAC/InterActiveCorp will post 4.8 earnings per share for the current fiscal year.
In related news, CFO Glenn Schiffman sold 1,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was 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 SEC, which is accessible through this link. Insiders have sold a total of 10,000 shares of company stock worth $2,232,440 in the last 90 days. 11.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Valeo Financial Advisors LLC bought a new stake in shares of IAC/InterActiveCorp in the 2nd quarter valued at about $29,000. Icon Wealth Partners LLC bought a new stake in shares of IAC/InterActiveCorp in the 1st quarter valued at about $32,000. Winslow Evans & Crocker Inc. grew its position in shares of IAC/InterActiveCorp by 40.3% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock valued at $48,000 after buying an additional 62 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of IAC/InterActiveCorp in the 1st quarter valued at about $56,000. Finally, NEXT Financial Group Inc grew its position in shares of IAC/InterActiveCorp by 152.0% in the 2nd quarter. NEXT Financial Group Inc now owns 315 shares of the company’s stock valued at $69,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 89.51% 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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