IAC (NASDAQ:IAC) Hits New 52-Week Low – What’s Next?

IAC Inc. (NASDAQ:IAC) hit a new 52-week low during trading on Wednesday . The stock traded as low as $43.20 and last traded at $43.23, with a volume of 365318 shares traded. The stock had previously closed at $44.11.

Wall Street Analysts Forecast Growth

IAC has been the topic of a number of research analyst reports. TD Cowen decreased their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Macquarie reaffirmed an “outperform” rating and issued a $14.00 target price on shares of IAC in a research note on Thursday, November 14th. UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. Benchmark reiterated a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, November 12th. Finally, Truist Financial cut their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

IAC Trading Up 1.3 %

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 company has a market cap of $3.40 billion, a PE ratio of -98.32 and a beta of 1.31. The stock has a 50 day moving average price of $49.17 and a 200 day moving average price of $49.86.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) EPS. Sell-side analysts predict that IAC Inc. will post -3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On IAC

Several hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of IAC by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after buying an additional 66,347 shares during the last quarter. State Street Corp lifted its position in IAC by 1.2% in the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock valued at $127,027,000 after acquiring an additional 28,577 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after purchasing an additional 79,951 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after purchasing an additional 25,909 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of IAC by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after purchasing an additional 52,271 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.