Prepare Yourself for Liftoff: IAC/InterActiveCorp (IAC)

IAC/InterActiveCorp (NASDAQ: IAC) stock jumped 2.75% on Tuesday to $47.00 against a previous-day closing price of $45.74. With 0.9 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.1 million shares. During the session, the Internet Content & Information company that operates in wider Communication Services sector, reached to the highest price of $47.08 whereas the lowest price it dropped to was $44.75. The 52-week range on IAC shows that it touched its highest point at $140.77 and its lowest point at $43.80 during that stretch. It currently has a 1-year price target of $84.75. Beta for the stock currently stands at 1.53.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IAC was down-trending over the past week, with a drop of -7.79%, but this was down by -2.59% over a month. Three-month performance dropped to -29.78% while six-month performance fell -41.03%. The stock lost -63.85% in the past year, while it has lost -64.04% so far this year. A look at the trailing 12-month EPS for IAC yields -13.34 with Next year EPS estimates of -2.17. For the next quarter, that number is -0.47. This implies an EPS growth rate of 98.00% for this year and 83.00% for next year.

Float and Shares Shorts:

At present, 86.02 million IAC shares are outstanding with a float of 78.37 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.35 million, which was 2.64% higher than short shares on Sep 14, 2022. In addition to Mr. Barry Diller as the firm’s Chairman & Sr. Exec., Mr. Joseph M. Levin serves as its CEO & Director.

Institutional Ownership:

Through their ownership of 91.41% of IAC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.89% of IAC, in contrast to 38.82% held by mutual funds. Shares owned by individuals account for 1.35%. As the largest shareholder in IAC with 8.61% of the stake, The Vanguard Group, Inc. holds 7,182,734 shares worth 7,182,734. A second-largest stockholder of IAC, JPMorgan Investment Management, I, holds 3,894,437 shares, controlling over 4.67% of the firm’s shares. Canada Pension Plan Investment Bo is the third largest shareholder in IAC, holding 3,878,700 shares or 4.65% stake. With a 4.65% stake in IAC, the Canada Pension Plan is the largest stakeholder. A total of 3,878,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.86% of IAC stock, is the second-largest Mutual Fund holder. It holds 2,384,664 shares valued at 116.09 million. JPMorgan Mid Cap Value Fund holds 2.56% of the stake in IAC, owning 2,132,433 shares worth 103.81 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IAC since 14 analysts follow the stock currently. There are 12 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With IAC analysts setting a high price target of $130.00 and a low target of $65.00, the average target price over the next 12 months is $84.75. Based on these targets, IAC could surge 176.6% to reach the target high and rise by 38.3% to reach the target low. Reaching the average price target will result in a growth of 80.32% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. IAC will report FY 2022 earnings on 02/14/2023. Analysts have provided yearly estimates in a range of -$12.95 being high and -$14.43 being low. For IAC, this leads to a yearly average estimate of -$13.78. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. IAC/InterActiveCorp surprised analysts by -$0.18 when it reported -$0.74 EPS against a consensus estimate of -$0.56. The surprise factor in the prior quarter was -$9.37. Based on analyst estimates, the high estimate for the next quarter is $0.08 and the low estimate is -$1.03. The average estimate for the next quarter is thus -$0.47.

Summary of Insider Activity:

Insiders traded IAC stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 610 shares were bought while 0 shares were sold. The number of buy transactions has increased to 41 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 60,949 while 12,365 shares were sold.

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