IAC/InterActiveCorp (NASDAQ:IAC) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of IAC/InterActiveCorp (NASDAQ:IAC) from a strong-buy rating to a hold rating in a research note released 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. “

Several other research firms also recently issued reports on IAC. Jefferies Financial Group lifted their price target 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. Wells Fargo & Co dropped their price target on shares of Nevro from $75.00 to $70.00 and set an outperform rating on the stock in a research note on Monday, May 13th. ValuEngine raised shares of ZIX from a buy rating to a strong-buy rating in a research note on Saturday, May 4th. Bank of America reaffirmed a hold rating on shares of TELUS in a research note on Friday, May 10th. Finally, Benchmark reaffirmed a buy rating and set a $18.00 price target on shares of TEGNA in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $265.82.

Shares of IAC stock opened at $238.22 on Wednesday. The company has a fifty day simple moving average of $226.07. IAC/InterActiveCorp has a 52 week low of $144.71 and a 52 week high of $244.87. 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 stock has a market cap of $19.96 billion, a P/E ratio of 41.43, a PEG ratio of 2.43 and a beta of 0.96.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its earnings results on Wednesday, May 8th. The company reported $0.91 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.71 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts forecast that IAC/InterActiveCorp will post 4.8 earnings per share for the current fiscal year.

In other news, CFO Glenn Schiffman sold 3,000 shares of IAC/InterActiveCorp stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $224.98, for a total value of $674,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 10,000 shares of company stock valued at $2,232,440. 11.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC acquired a new position in IAC/InterActiveCorp during the 2nd quarter valued at about $29,000. Icon Wealth Partners LLC acquired a new position in IAC/InterActiveCorp during the 1st quarter valued at about $32,000. Winslow Evans & Crocker Inc. boosted its stake in IAC/InterActiveCorp by 40.3% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock valued at $48,000 after purchasing an additional 62 shares during the period. Meridian Wealth Management LLC acquired a new position in IAC/InterActiveCorp during the 1st quarter valued at about $56,000. Finally, NEXT Financial Group Inc boosted its stake in IAC/InterActiveCorp by 152.0% during the 2nd quarter. NEXT Financial Group Inc now owns 315 shares of the company’s stock valued at $69,000 after purchasing an additional 190 shares during the period. 89.51% of the stock is owned by institutional investors and hedge funds.

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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