IAC (NASDAQ:IAC) Hits New 52-Week Low – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays cut their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. KeyCorp dropped their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $70.00 price target on shares of IAC in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.50.

IAC Stock Performance

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 cap of $3.32 billion, a PE ratio of -95.88 and a beta of 1.32. The firm has a fifty day moving average price of $46.35 and a 200 day moving average price of $49.28.

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 company had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) EPS. Research analysts forecast that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of IAC by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock worth $153,252,000 after acquiring an additional 66,347 shares during the period. State Street Corp raised its holdings in IAC by 1.2% in the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after purchasing an additional 28,577 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after purchasing an additional 79,951 shares in the last quarter. Geode Capital Management LLC grew its holdings in IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after purchasing an additional 25,909 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after buying an additional 52,271 shares in the last quarter. Hedge funds and other institutional investors 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.