Thu Sep 19 08:22:02 UTC 2024: ## IAC Sees Short Interest Decline, Institutional Investors Show Interest

**New York, NY (MarketBeat) –** IAC Inc. (NASDAQ: IAC), a leading media and internet company, experienced a decrease in short interest during August. Short interest, which represents the number of shares borrowed and sold in the hopes of buying them back at a lower price, dropped by 6.4% to 3,070,000 shares as of August 31st. This suggests that investors are becoming more bullish on the company’s prospects.

The decline in short interest comes amidst increased activity from institutional investors. Several hedge funds and institutional investors modified their holdings in IAC during the second quarter, with some increasing their positions while others bought new stakes. Notable among these was Teachers Retirement System of The State of Kentucky, which expanded its holdings by 26.5% during the quarter.

Despite a recent decline in revenue, IAC’s performance has attracted attention from analysts. KeyCorp, Benchmark, Truist Financial, Barclays, and JMP Securities have all recently issued reports on the company. While some analysts adjusted their target prices downwards, most maintained a “buy” or “outperform” rating. Overall, IAC currently holds a “Moderate Buy” consensus rating with an average target price of $76.40, indicating that analysts remain optimistic about the company’s future.

The company’s recent earnings report showed a loss per share of $1.71 for the quarter, missing analysts’ expectations. However, revenue for the quarter came in at $949.50 million, surpassing estimates. Analysts are predicting that IAC will post a loss of -0.79 EPS for the current fiscal year.

While IAC faces challenges, its recent performance, coupled with the growing interest from institutional investors and analysts, suggests that the company may be positioned for a turnaround. Investors will be watching closely to see how IAC navigates the market and what strategies it deploys to drive future growth.

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