IAC (NASDAQ:IAC) Shares Gap Up – Still a Buy?

IAC Inc. (NASDAQ:IAC)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $41.00, but opened at $42.60. IAC shares last traded at $43.54, with a volume of 459,624 shares trading hands.

Wall Street Analyst Weigh In

IAC has been the subject of several analyst reports. Truist Financial dropped their price target on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday. Oppenheimer dropped their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday. KeyCorp decreased their price objective on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Macquarie restated an “outperform” rating and issued a $14.00 price objective on shares of IAC in a report on Thursday, November 14th. Finally, Citigroup upped their price objective on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $64.33.

IAC Trading Up 10.6 %

The stock’s fifty day moving average price is $43.10 and its two-hundred day moving average price is $48.21. 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 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 quarter in the previous year, the business posted ($0.30) earnings per share. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. Equities analysts expect that IAC Inc. will post -3.97 EPS for the current year.

Institutional Investors Weigh In On IAC

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC raised its holdings in shares of IAC by 581.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock valued at $5,291,000 after purchasing an additional 83,878 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of IAC by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after buying an additional 52,271 shares during the last quarter. Royce & Associates LP grew its position in shares of IAC by 5.1% in the 3rd quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock valued at $14,999,000 after buying an additional 13,400 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position 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 during the last quarter. Finally, Barclays PLC grew its position in shares of IAC by 922.5% in the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after buying an additional 54,797 shares during the last quarter. 88.90% of the stock is currently 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.