Zacks Investment Research Downgrades IAC/InterActiveCorp (NASDAQ:IAC) to Hold

IAC/InterActiveCorp (NASDAQ:IAC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, 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. “

IAC has been the topic of a number of other research reports. Jefferies Financial Group boosted their target price on shares of IAC/InterActiveCorp from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Nomura decreased their target price on shares of CytomX Therapeutics to $22.00 in a research note on Monday, May 13th. JPMorgan Chase & Co. set a €52.00 ($60.47) target price on shares of Vonovia and gave the stock a “buy” rating in a research note on Friday, May 10th. BidaskClub cut shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 1st. Finally, UBS Group set a $133.00 target price on shares of LHC Group and gave the stock a “buy” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $265.82.

IAC traded up $4.89 during trading on Wednesday, hitting $243.85. 3,546 shares of the stock traded hands, compared to its average volume of 645,221. IAC/InterActiveCorp has a twelve month low of $144.71 and a twelve month high of $242.86. The firm has a market cap of $20.02 billion, a P/E ratio of 43.21, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.12 and a current ratio of 3.12. The business’s 50 day moving average is $225.65.

IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.40 by $0.51. IAC/InterActiveCorp had a net margin of 14.74% and a return on equity of 16.05%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.71 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. On average, analysts forecast that IAC/InterActiveCorp will post 4.8 EPS for the current year.

In related news, CFO Glenn Schiffman sold 1,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $225.00, for a total value of $225,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 10,000 shares of company stock worth $2,232,440. 11.50% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC bought a new stake in IAC/InterActiveCorp during the second quarter valued at $29,000. Icon Wealth Partners LLC bought a new stake in IAC/InterActiveCorp during the first quarter valued at $32,000. Winslow Evans & Crocker Inc. boosted its position in IAC/InterActiveCorp by 40.3% during the first quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock valued at $48,000 after acquiring an additional 62 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in IAC/InterActiveCorp during the first quarter valued at $56,000. Finally, NEXT Financial Group Inc boosted its position in IAC/InterActiveCorp by 152.0% during the second quarter. NEXT Financial Group Inc now owns 315 shares of the company’s stock valued at $69,000 after acquiring an additional 190 shares during the last quarter. 89.51% of the stock is currently owned by institutional investors.

About IAC/InterActiveCorp

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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