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

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Benchmark dropped their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citigroup lifted their target price on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays dropped their price target on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. JMP Securities reduced their price objective on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. Finally, 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 report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.31.

IAC Stock Performance

The company has a market cap of $3.03 billion, a P/E ratio of -5.99 and a beta of 1.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $44.97 and a 200-day moving average price of $47.20.

Institutional Trading of IAC

A number of hedge funds and other institutional investors have recently made changes to their positions in IAC. Wellington Management Group LLP acquired a new position in IAC during the fourth quarter worth about $439,000. Asset Value Investors Ltd acquired a new position in shares of IAC in the 4th quarter worth approximately $39,872,000. Jefferies Financial Group Inc. bought a new stake in shares of IAC in the 4th quarter worth approximately $276,000. Poehling Capital Management INC. bought a new stake in IAC during the fourth quarter worth approximately $1,255,000. Finally, Ursa Fund Management LLC bought a new stake in shares of IAC during the 4th quarter worth $647,000. 88.90% of the stock is currently owned by institutional investors.

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.