IAC (NASDAQ:IAC) Sets New 1-Year Low – Here’s What Happened

IAC Inc. (NASDAQ:IAC)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $40.91 and last traded at $41.00, with a volume of 55208 shares traded. The stock had previously closed at $41.69.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IAC shares. KeyCorp decreased their price target on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. JMP Securities reiterated a “market outperform” rating and set a $70.00 price target on shares of IAC in a report on Monday, December 16th. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. Finally, Truist Financial cut their target price on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

IAC Trading Down 1.2 %

The firm has a market capitalization of $3.32 billion, a PE ratio of -95.83 and a beta of 1.32. The firm has a 50 day simple moving average of $46.20 and a 200 day simple moving average of $49.26. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the previous year, the business earned ($0.30) EPS. The business’s revenue was down 15.5% compared to the same quarter last year. Equities analysts expect that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Institutional Trading of IAC

Several large investors have recently added to or reduced their stakes in the business. Quarry LP increased its position in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares in the last quarter. GAMMA Investing LLC raised its stake in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the period. Clear Harbor Asset Management LLC purchased a new position in IAC during the third quarter valued at approximately $208,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of IAC in the third quarter worth approximately $209,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of IAC in the third quarter worth $224,000. 88.90% of the stock is currently owned by institutional investors.

IAC Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.