IAC (NASDAQ:IAC) Hits New 12-Month Low – Here’s What Happened

Shares of IAC Inc. (NASDAQ:IAC) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $37.76 and last traded at $39.11, with a volume of 110562 shares trading hands. The stock had previously closed at $45.94.

Wall Street Analyst Weigh In

Several analysts have issued reports on IAC shares. KeyCorp boosted their target price on shares of IAC from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. JMP Securities dropped their target price on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Citigroup boosted their price objective on shares of IAC from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Benchmark lowered their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group reduced their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.31.

IAC Stock Down 14.9 %

The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -5.99 and a beta of 1.29. The business’s 50 day moving average is $44.97 and its 200-day moving average is $47.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80.

Institutional Investors Weigh In On IAC

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its holdings in shares of IAC by 581.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock worth $5,291,000 after purchasing an additional 83,878 shares in the last quarter. Applied Fundamental Research LLC boosted its stake in IAC by 12.1% during the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company’s stock worth $17,955,000 after buying an additional 44,835 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of IAC by 15.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company’s stock valued at $17,990,000 after buying an additional 44,000 shares in the last quarter. Barclays PLC lifted its holdings in shares of IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after acquiring an additional 54,797 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in shares of IAC by 4,238.5% in the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock worth $9,897,000 after buying an additional 224,131 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

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.