IAC (NASDAQ:IAC) Trading Up 7.3% – Here’s What Happened

IAC Inc. (NASDAQ:IAC)’s share price traded up 7.3% on Thursday . The company traded as high as $46.66 and last traded at $46.57. 531,196 shares traded hands during trading, a decline of 28% from the average session volume of 738,333 shares. The stock had previously closed at $43.39.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JMP Securities dropped their price objective on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a research note on Thursday. Oppenheimer cut their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays lowered their price objective on shares of IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday. KeyCorp cut their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, TD Cowen lowered their price target on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

IAC Price Performance

The company’s 50-day simple moving average is $43.10 and its 200-day simple moving average is $48.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -109.92 and a beta of 1.32.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. On average, equities research analysts anticipate that IAC Inc. will post -3.97 EPS for the current year.

Institutional Trading of IAC

Institutional investors and hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd boosted its stake in IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock valued at $27,000 after acquiring an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in IAC in the 4th quarter valued at about $41,000. GAMMA Investing LLC grew its holdings in IAC by 98.8% during the third 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. Quarry LP lifted its holdings in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after purchasing an additional 785 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after buying an additional 1,916 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

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.