Truist Financial Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC - Free Report) had its target price cut by Truist Financial from $80.00 to $76.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Citigroup increased their target price on IAC from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Barclays cut their target price on IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday. Macquarie reiterated an "outperform" rating and set a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. KeyCorp cut their target price 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. Finally, Benchmark restated a "buy" rating and issued a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. Three investment 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 has a consensus rating of "Moderate Buy" and an average target price of $64.33.

IAC Stock Performance

NASDAQ:IAC traded down $0.99 during mid-day trading on Thursday, hitting $46.99. The company's stock had a trading volume of 2,032,766 shares, compared to its average volume of 620,041. IAC has a 1 year low of $39.61 and a 1 year high of $58.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -109.26 and a beta of 1.32. The business's fifty day moving average is $43.08 and its two-hundred day moving average is $48.12.

Hedge Funds Weigh In On IAC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd lifted its stake in shares of IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after purchasing an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in IAC in the fourth quarter valued at about $41,000. GAMMA Investing LLC raised its position in shares of IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company's stock valued at $53,000 after acquiring an additional 492 shares in the last quarter. Quarry LP raised its holdings in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company's stock worth $53,000 after purchasing an additional 785 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in 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 acquiring an additional 1,916 shares during the period. Institutional investors and hedge funds 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.