IAC (NASDAQ:IAC) Given New $70.00 Price Target at Oppenheimer

IAC (NASDAQ:IAC - Free Report) had its price objective trimmed by Oppenheimer from $72.00 to $70.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

IAC has been the topic of a number of other research reports. JMP Securities cut their target price on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research note on Thursday. Barclays reduced their target price on IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday. Truist Financial lowered their target price on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday. Piper Sandler cut IAC from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Citigroup raised their price objective on IAC from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, IAC currently has an average rating of "Moderate Buy" and an average target price of $64.33.

IAC Trading Down 2.1 %

Shares of IAC stock traded down $0.99 during trading hours on Thursday, reaching $46.99. The company's stock had a trading volume of 2,032,766 shares, compared to its average volume of 620,041. 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 firm's fifty day simple moving average is $43.08 and its 200 day simple moving average is $48.12. The stock has a market capitalization of $3.78 billion, a P/E ratio of -109.26 and a beta of 1.32. IAC has a one year low of $39.61 and a one year high of $58.29.

Hedge Funds Weigh In On IAC

Hedge funds have recently added to or reduced their stakes in the company. Corvex Management LP increased its holdings in shares of IAC by 61.8% in the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock worth $103,983,000 after purchasing an additional 920,875 shares in the last quarter. Norges Bank bought a new stake in IAC in the 4th quarter worth about $38,817,000. Joel Isaacson & Co. LLC raised its position in IAC by 553.6% in the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock worth $18,302,000 after buying an additional 359,327 shares during the last quarter. Brown Advisory Inc. raised its position in IAC by 87.9% in the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company's stock worth $32,967,000 after buying an additional 357,442 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its holdings in shares of IAC by 223.5% during the 4th quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock valued at $15,172,000 after acquiring an additional 242,982 shares during the last quarter. 88.90% of the stock is currently 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.