IAC (NASDAQ:IAC) Sets New 1-Year Low – Should You Sell?

IAC Inc. (NASDAQ:IAC) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $43.20 and last traded at $43.23, with a volume of 365318 shares changing hands. The stock had previously closed at $44.11.

Analyst Ratings Changes

IAC has been the topic of a number of recent research reports. TD Cowen dropped their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Macquarie restated an “outperform” rating and issued a $14.00 price objective on shares of IAC in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, November 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $70.00 price objective on shares of IAC in a research report on Monday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus target price of $68.33.

IAC Trading Down 4.3 %

The business has a fifty day moving average price of $49.59 and a two-hundred day moving average price of $49.97. The firm has a market capitalization of $3.40 billion, a PE ratio of -98.16 and a beta of 1.31. 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 earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million for the quarter, compared to analysts’ expectations 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 business earned ($0.30) earnings per share. Analysts expect that IAC Inc. will post -3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On IAC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Greenwich Wealth Management LLC increased its holdings in shares of IAC by 3.0% in the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after purchasing an additional 284 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of IAC by 2.7% in the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after purchasing an additional 405 shares during the period. CWM LLC increased its holdings in shares of IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares during the period. Victory Capital Management Inc. increased its holdings in shares of IAC by 1.6% in the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after purchasing an additional 490 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after purchasing an additional 492 shares during the period. 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.