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

Zacks Investment Research lowered shares of IAC/InterActiveCorp (NASDAQ:IAC) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday, December 19th.

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 analysts also recently weighed in on IAC. BidaskClub upgraded IAC/InterActiveCorp from a buy rating to a strong-buy rating in a research note on Friday, September 8th. Guggenheim reaffirmed a buy rating and issued a $130.00 price objective (up from $120.00) on shares of IAC/InterActiveCorp in a research report on Monday, September 18th. Benchmark upped their price objective on IAC/InterActiveCorp from $135.00 to $150.00 and gave the company a buy rating in a research report on Thursday, September 21st. Piper Jaffray Companies reaffirmed an overweight rating and issued a $160.00 price objective (up from $152.00) on shares of IAC/InterActiveCorp in a research report on Wednesday, October 4th. Finally, Oppenheimer reaffirmed a buy rating and issued a $141.00 price objective (up from $127.00) on shares of IAC/InterActiveCorp in a research report on Thursday, October 5th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $143.62.

IAC/InterActiveCorp (IAC) traded up $1.58 during mid-day trading on Tuesday, hitting $133.68. The company’s stock had a trading volume of 437,436 shares, compared to its average volume of 677,892. IAC/InterActiveCorp has a 1 year low of $66.35 and a 1 year high of $137.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $10,950.00, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 4.27 and a beta of 1.09.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.14). The company had revenue of $828.40 million during the quarter, compared to analysts’ expectations of $810.36 million. IAC/InterActiveCorp had a return on equity of 4.26% and a net margin of 11.81%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 EPS. research analysts forecast that IAC/InterActiveCorp will post 0.55 earnings per share for the current year.

In related news, Director Edgar Bronfman, Jr. sold 2,289 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $122.94, for a total value of $281,409.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David S. Rosenblatt sold 6,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $133.00, for a total value of $798,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,929 shares of company stock worth $22,516,569. 11.30% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of IAC. Great West Life Assurance Co. Can increased its stake in IAC/InterActiveCorp by 0.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 23,180 shares of the company’s stock worth $2,389,000 after buying an additional 203 shares in the last quarter. Sei Investments Co. increased its stake in IAC/InterActiveCorp by 221.0% in the 2nd quarter. Sei Investments Co. now owns 17,659 shares of the company’s stock worth $1,824,000 after buying an additional 12,157 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in IAC/InterActiveCorp by 0.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 254,744 shares of the company’s stock worth $26,300,000 after buying an additional 1,010 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in IAC/InterActiveCorp in the 2nd quarter worth $193,000. Finally, ClariVest Asset Management LLC purchased a new stake in IAC/InterActiveCorp in the 2nd quarter worth $133,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

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About IAC/InterActiveCorp

IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.

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