IAC (NASDAQ:IAC) Raised to Hold at UBS Group

UBS Group upgraded shares of IAC (NASDAQ:IAC) to a hold rating in a report issued on Monday, Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. JMP Securities initiated coverage on IAC in a research note on Tuesday, July 9th. They set an “outperform” rating and a $78.00 price objective for the company. Barclays cut their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. KeyCorp decreased their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Truist Financial increased their target price on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Citigroup dropped their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.40.

IAC Stock Performance

Shares of NASDAQ:IAC opened at $51.00 on Monday. IAC has a 1-year low of $41.39 and a 1-year high of $58.29. The business has a 50-day moving average price of $52.34 and a two-hundred day moving average price of $50.72. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.10 billion, a P/E ratio of -32.28 and a beta of 1.32.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). The business had revenue of $949.50 million during the quarter, compared to the consensus estimate of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. IAC’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.76) earnings per share. Equities analysts predict that IAC will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in IAC in the second quarter valued at $39,000. GAMMA Investing LLC boosted its stake in shares of IAC by 98.8% during the 3rd 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. CWM LLC increased its holdings in shares of IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after acquiring an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in IAC in the 2nd quarter valued at $60,000. Finally, Geneos Wealth Management Inc. acquired a new stake in IAC during the 1st quarter valued at $80,000. 88.90% of the stock is owned by institutional investors and hedge funds.

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.