IAC (NASDAQ:IAC) Given New $64.00 Price Target at JMP Securities

IAC (NASDAQ:IAC) had its price target reduced by equities research analysts at JMP Securities from $70.00 to $64.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 38.95% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. TD Cowen dropped their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Macquarie reissued an “outperform” rating and issued a $14.00 target price on shares of IAC in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. Finally, KeyCorp decreased their price target on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus target price of $65.58.

IAC Price Performance

Shares of IAC traded up $2.67 on Thursday, hitting $46.06. The company’s stock had a trading volume of 270,406 shares, compared to its average volume of 726,923. The company has a 50 day moving average price of $43.10 and a 200 day moving average price of $48.21. IAC has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The company has a market capitalization of $3.71 billion, a PE ratio of -106.44 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share 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 analyst estimates of $922.62 million. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) earnings per share. On average, research analysts anticipate that IAC will post -3.97 earnings per share for the current fiscal year.

Institutional Trading of IAC

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd boosted its stake in 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 acquiring an additional 457 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in IAC in the fourth quarter worth $41,000. Quarry LP boosted its position in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after purchasing an additional 785 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after buying an additional 1,916 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

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.