JPMorgan Chase & Co. Reaffirms Overweight Rating for IAC (NASDAQ:IAC)

IAC (NASDAQ:IAC - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $60.00 target price on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 22.47% from the company's previous close.

IAC has been the subject of several other reports. Citigroup boosted their price target on IAC from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Barclays decreased their price objective on IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Truist Financial dropped their target price on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Oppenheimer decreased their price target on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Finally, Piper Sandler lowered IAC from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.31.

Remove Ads

IAC Stock Up 1.2 %

Shares of IAC traded up $0.60 during mid-day trading on Friday, hitting $48.99. The company's stock had a trading volume of 300,824 shares, compared to its average volume of 758,967. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The company's 50-day moving average is $44.25 and its 200-day moving average is $47.30. IAC has a 52-week low of $39.61 and a 52-week high of $58.29. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -7.51 and a beta of 1.29.

Hedge Funds Weigh In On IAC

Several institutional investors and hedge funds have recently modified their holdings of IAC. Aster Capital Management DIFC Ltd raised its stake in shares of IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after buying an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in IAC during the fourth quarter worth $41,000. Quarry LP lifted its holdings in IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company's stock valued at $53,000 after purchasing an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after purchasing an additional 1,916 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of IAC during the 4th quarter worth about $135,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

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.