Citigroup Begins Coverage on IAC/InterActiveCorp (NASDAQ:IAC)

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Citigroup initiated coverage on shares of IAC/InterActiveCorp (NASDAQ:IAC) in a research report released on Tuesday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $290.00 target price on the stock.

IAC has been the subject of several other research reports. Jefferies Financial Group raised their target price on shares of IAC/InterActiveCorp from $280.00 to $300.00 and gave the stock a buy rating in a research note on Monday, August 12th. Credit Suisse Group raised their price objective on shares of IAC/InterActiveCorp from $263.00 to $284.00 and gave the company an outperform rating in a research note on Friday, August 9th. Oppenheimer raised their target price on shares of IAC/InterActiveCorp from $285.00 to $310.00 and gave the company an outperform rating in a report on Friday, August 9th. Cowen set a $290.00 target price on shares of IAC/InterActiveCorp and gave the company a buy rating in a report on Wednesday, July 31st. Finally, Barclays lifted their price target on shares of IAC/InterActiveCorp from $295.00 to $311.00 and gave the stock an overweight rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. IAC/InterActiveCorp has an average rating of Buy and an average target price of $287.37.

IAC/InterActiveCorp stock opened at $233.01 on Tuesday. The firm has a market cap of $19.94 billion, a PE ratio of 51.21 and a beta of 0.94. IAC/InterActiveCorp has a 52-week low of $158.29 and a 52-week high of $268.72. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average is $245.44 and its two-hundred day moving average is $228.81.

IAC/InterActiveCorp (NASDAQ:IAC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. IAC/InterActiveCorp had a net margin of 11.99% and a return on equity of 12.44%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.32 EPS. On average, equities research analysts anticipate that IAC/InterActiveCorp will post 4.4 earnings per share for the current fiscal year.

In other IAC/InterActiveCorp news, EVP Gregg Winiarski sold 73,409 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $253.54, for a total transaction of $18,612,117.86. Following the completion of the transaction, the executive vice president now directly owns 206,342 shares in the company, valued at $52,315,950.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn Schiffman sold 1,000 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $225.00, for a total value of $225,000.00. The disclosure for this sale can be found here. Insiders sold 185,781 shares of company stock valued at $46,309,265 over the last three months. 11.50% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Next Capital Management LLC bought a new position in shares of IAC/InterActiveCorp during the 2nd quarter valued at about $28,000. Valeo Financial Advisors LLC bought a new stake in IAC/InterActiveCorp in the 2nd quarter valued at approximately $29,000. Icon Wealth Partners LLC acquired a new position in shares of IAC/InterActiveCorp during the 1st quarter worth approximately $32,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of IAC/InterActiveCorp by 78.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock worth $42,000 after purchasing an additional 85 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in shares of IAC/InterActiveCorp during the 1st quarter worth approximately $56,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

IAC/InterActiveCorp Company Profile

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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