IAC (NASDAQ:IAC) Trading 7.3% Higher – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IAC. Barclays dropped their target price on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday. JMP Securities cut their price target on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a report on Thursday. TD Cowen lowered their price objective on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Truist Financial reduced their target price on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Oppenheimer lowered their price objective on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

IAC Price Performance

The stock’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 capitalization of $3.83 billion, a PE ratio of -109.92 and a beta of 1.32.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) 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 business had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the previous year, the company posted ($0.30) EPS. The company’s revenue was down 15.5% compared to the same quarter last year. As a group, equities analysts forecast that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

Several large investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd boosted its position in shares of IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in IAC during the fourth quarter worth about $41,000. GAMMA Investing LLC grew its position 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 buying an additional 492 shares during the period. Quarry LP increased its holdings in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after buying an additional 785 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of IAC by 1,398.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after acquiring an additional 1,916 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.