IAC (NASDAQ:IAC) Reaches New 1-Year Low - Here's Why

Shares of IAC Inc. (NASDAQ:IAC - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $37.76 and last traded at $39.11, with a volume of 110562 shares. The stock had previously closed at $45.94.

Analysts Set New Price Targets

IAC has been the topic of a number of recent research reports. Oppenheimer lowered their target price on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Benchmark reduced their target price on shares of IAC from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Citigroup lifted their price target on shares of IAC from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Truist Financial reduced their price objective on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $60.00 price target on shares of IAC in a report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.31.

IAC Stock Performance

The company has a market capitalization of $2.75 billion, a P/E ratio of -5.44 and a beta of 1.24. The business has a 50 day moving average of $44.78 and a 200 day moving average of $46.99. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

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Hedge Funds Weigh In On IAC

A number of institutional investors and hedge funds have recently modified their holdings of IAC. Sanctuary Advisors LLC lifted its position in IAC by 581.3% in the third quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company's stock worth $5,291,000 after buying an additional 83,878 shares during the last quarter. Applied Fundamental Research LLC raised its stake in shares of IAC by 12.1% in the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company's stock valued at $17,955,000 after acquiring an additional 44,835 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of IAC by 15.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company's stock worth $17,990,000 after acquiring an additional 44,000 shares during the last quarter. Barclays PLC boosted its stake in shares of IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company's stock worth $3,268,000 after purchasing an additional 54,797 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in shares of IAC by 4,238.5% during the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock valued at $9,897,000 after buying an additional 224,131 shares during the last quarter. 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.