UBS Group Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target lowered by equities research analysts at UBS Group from $55.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 17.47% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Benchmark reaffirmed a “buy” rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. TD Cowen dropped their price objective on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Barclays dropped their price objective on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial dropped their price objective on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $70.00 target price on shares of IAC in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.08.

IAC Trading Up 5.9 %

IAC stock traded up $2.58 during midday trading on Thursday, hitting $45.97. 193,980 shares of the company’s stock were exchanged, compared to its average volume of 726,798. The business has a 50-day simple moving average of $43.10 and a two-hundred day simple moving average of $48.21. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.70 billion, a PE ratio of -106.90 and a beta of 1.32. IAC has a 1-year low of $39.61 and a 1-year high of $58.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings data 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 firm had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. On average, sell-side analysts predict that IAC will post -3.97 EPS for the current fiscal year.

Institutional Trading of IAC

A number of institutional investors have recently bought and sold shares of the business. Yakira Capital Management Inc. lifted its holdings in shares of IAC by 34.9% in the 4th quarter. Yakira Capital Management Inc. now owns 136,649 shares of the company’s stock valued at $5,895,000 after purchasing an additional 35,333 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock valued at $27,000 after purchasing an additional 457 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of IAC by 6.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 16,733 shares of the company’s stock valued at $722,000 after purchasing an additional 1,000 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in shares of IAC in the 4th quarter valued at about $595,000. Finally, Headlands Technologies LLC purchased a new stake in shares of IAC in the 4th quarter valued at about $175,000. 88.90% of the stock is owned by hedge funds and other 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.