Shares of the company are trading at $129.05 a tad above $120.87, the 50 day moving average and quite a bit higher than the 200 day moving average of $107.10. The 50 day moving average moved up $8.18 and the 200 day average went up by +20.50%. (NASDAQ:IAC) shares saw heavy trading volume with 792K shares changing hands on Tuesday. Overall, volume was up 30.88% over the stocks normal daily volume.
Investors are a little more bearish on shares of the company looking at the motion in short interest. The stock realized a rise in short interest of 6.78% between September 29, 2017 and October 13, 2017. Short shares increased from 1,295,782 to 1,383,583 over that timeframe. Days to cover decreased 0.0 to 2.0 and the short interest percentage is 0.02% as of October 13.
The following firms have recently changed their position in IAC. State Of New Jersey Common Pension Fund D cut its position by selling 195,000 shares a decrease of 69.6% from 06/30/2017 to 09/30/2017. State Of New Jersey Common Pension Fund D owns 85,000 shares worth $9,994,000. The value of the position overall is down by 65.4%. Handelsbanken Fonder Ab grew its holdings by buying 75,000 shares an increase of 15.1% as of 09/30/2017. Handelsbanken Fonder Ab now holds 572,000 shares with a value of $67,256,000. The total value of its holdings increased 31.1%.
Cornerstone Advisors, Inc. divested its stake by shedding 144 shares a decrease of 26.1% in the quarter. Cornerstone Advisors, Inc. currently owns 407 shares valued at $48,000. The value of the position overall is down by 15.8%. As of quarter end Simplex Trading, LLC had acquired 762 shares growing its stake by 74.0%. The value of the investment in (IAC) increased from $106,000 to $210,000 a change of $104,000 quarter over quarter.
August 4 investment analysts at Barclays held the company rating at “Overweight” but moved up the price target from $70.00 to $130.00. Equity analyst Goldman Sachs started coverage with an initial rating of “Buy” and price target of $150.00.
On October 23 Barclays left the stock rating at “Overweight” but raised the price target to $150.00 from $130.00.
The P/E ratio is currently 46.12 and market capitalization is 10.29B. In the last earnings report the EPS was $2.80 and is estimated to be $3.08 for the current year with 79,754,000 shares now outstanding. Next quarter’s EPS is estimated at $1.14 and the next full year EPS is projected to be $4.59.
IAC/InterActivecorp (IAC), launched on July 28, 1986, is a media and Internet company. The Business’s brands include HomeAdvisor, Vimeo, Dictionary.com, The Daily Beast, Investopedia and Match Group’s online dating portfolio, which includes Match, Tinder, PlentyOfFish and OkCupid. The Company operates through segments, which include Match Group, HomeAdvisor, Video, Applications and Publishing..