IAC (NASDAQ:IAC) Receives “Outperform” Rating from Macquarie

Macquarie reaffirmed their outperform rating on shares of IAC (NASDAQ:IAC) in a report published on Thursday morning,Benzinga reports. Macquarie currently has a $14.00 price objective on the stock.

IAC has been the subject of a number of other research reports. 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. Truist Financial dropped their price target on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays reduced their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday. KeyCorp cut their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Finally, Benchmark reiterated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average target price of $70.91.

IAC Stock Performance

IAC stock traded down $0.84 during trading on Thursday, reaching $46.14. The company had a trading volume of 326,550 shares, compared to its average volume of 663,009. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -108.07 and a beta of 1.33. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $52.03 and its 200 day simple moving average is $50.88. IAC has a 52 week low of $43.51 and a 52 week high of $58.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, November 11th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) earnings per share. Sell-side analysts forecast that IAC will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of IAC in the second quarter worth about $39,000. GAMMA Investing LLC increased its holdings in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the period. CWM LLC raised its position in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of IAC in the 2nd quarter worth $60,000. Finally, Innealta Capital LLC bought a new position in shares of IAC during the 2nd quarter worth $146,000. 88.90% of the stock is owned by hedge funds and other 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.