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

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Zacks Investment Research lowered shares of IAC/InterActiveCorp (NASDAQ:IAC) from a buy rating to a hold rating in a research report released on Wednesday.

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 research analysts have also recently commented on the company. Deutsche Bank started coverage on IAC/InterActiveCorp in a research note on Wednesday, May 30th. They set a buy rating and a $189.35 price target for the company. BidaskClub cut IAC/InterActiveCorp from a strong-buy rating to a buy rating in a research note on Tuesday, July 31st. Jefferies Financial Group cut their price target on IAC/InterActiveCorp from $190.00 to $165.00 and set a buy rating for the company in a research note on Wednesday, May 2nd. Credit Suisse Group upped their price target on IAC/InterActiveCorp from $183.00 to $220.00 and gave the stock an outperform rating in a research note on Friday, August 10th. Finally, Barclays upped their price target on IAC/InterActiveCorp from $34.00 to $195.00 and gave the stock an overweight rating in a research note on Friday, May 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. IAC/InterActiveCorp currently has a consensus rating of Buy and an average target price of $197.18.

IAC/InterActiveCorp stock opened at $198.43 on Wednesday. IAC/InterActiveCorp has a 12 month low of $103.60 and a 12 month high of $202.86. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.78 and a quick ratio of 2.78. The company has a market cap of $16.68 billion, a PE ratio of 60.00, a P/E/G ratio of 2.57 and a beta of 1.15.

IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings results on Wednesday, August 8th. The company reported $2.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $1.50. IAC/InterActiveCorp had a return on equity of 10.24% and a net margin of 13.09%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The company’s quarterly revenue was up 38.0% compared to the same quarter last year. sell-side analysts anticipate that IAC/InterActiveCorp will post 5.19 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in IAC/InterActiveCorp by 10.5% in the second quarter. BlackRock Inc. now owns 4,367,820 shares of the company’s stock valued at $666,045,000 after purchasing an additional 415,012 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in IAC/InterActiveCorp by 16.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,927,175 shares of the company’s stock valued at $598,855,000 after purchasing an additional 559,748 shares during the last quarter. Cadian Capital Management LP grew its holdings in IAC/InterActiveCorp by 33.4% in the second quarter. Cadian Capital Management LP now owns 1,910,237 shares of the company’s stock valued at $291,292,000 after purchasing an additional 478,270 shares during the last quarter. Aristeia Capital LLC grew its holdings in IAC/InterActiveCorp by 16.0% in the second quarter. Aristeia Capital LLC now owns 1,654,217 shares of the company’s stock valued at $252,252,000 after purchasing an additional 227,867 shares during the last quarter. Finally, First Manhattan Co. grew its holdings in IAC/InterActiveCorp by 39.1% in the second quarter. First Manhattan Co. now owns 917,744 shares of the company’s stock valued at $139,946,000 after purchasing an additional 258,141 shares during the last quarter. 86.82% of the stock is currently owned by hedge funds and other institutional investors.

About IAC/InterActiveCorp

IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. It operates through Match Group, ANGI Homeservices, Video, Applications, and Publishing segments. The Match Group segment provides subscription dating products, which enable users to establish a profile and review the profiles of other users in 42 languages.

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