IAC (NASDAQ:IAC) Price Target Cut to $54.00 by Analysts at UBS Group

IAC (NASDAQ:IAC) had its price objective trimmed by UBS Group from $55.00 to $54.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on IAC. Macquarie reissued an “outperform” rating and issued a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and issued a $70.00 target price on shares of IAC in a research report on Monday, December 16th. Truist Financial dropped their price target on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen cut their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and set a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

IAC Stock Up 10.6 %

IAC stock opened at $47.97 on Thursday. The company has a 50 day moving average price of $43.10 and a two-hundred day moving average price of $48.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a market capitalization of $3.86 billion, a P/E ratio of -111.56 and a beta of 1.32. IAC has a one year low of $39.61 and a one year high of $58.29.

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 analyst estimates 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 last year, the business earned ($0.30) EPS. As a group, sell-side analysts expect that IAC will post -3.97 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd raised its stake in shares of IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock valued at $27,000 after purchasing an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in IAC during the 4th quarter valued at $41,000. GAMMA Investing LLC increased 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 buying an additional 492 shares during the period. Quarry LP lifted its holdings in IAC by 408.9% in the 3rd 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. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after buying an additional 1,916 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

About IAC

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.