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

IAC Inc. (NASDAQ:IAC - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $33.13 and last traded at $33.32, with a volume of 89157 shares trading hands. The stock had previously closed at $35.47.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IAC. Oppenheimer lowered their price objective on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Citigroup upped their price target on IAC from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, January 31st. KeyCorp increased their price objective on IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. JMP Securities lowered their target price on IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Barclays reduced their price target on shares of IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.31.

IAC Price Performance

The company's 50-day simple moving average is $43.47 and its 200 day simple moving average is $45.91. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -5.24 and a beta of 1.24. 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 have recently modified their holdings of IAC. Asset Value Investors Ltd bought a new stake in shares of IAC in the fourth quarter valued at approximately $39,872,000. Corvex Management LP boosted its holdings in IAC by 61.8% in the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after purchasing an additional 920,875 shares during the period. Norges Bank acquired a new stake in IAC in the 4th quarter worth $38,817,000. Southeastern Asset Management Inc. TN grew its position in IAC by 21.3% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock worth $118,719,000 after purchasing an additional 483,613 shares during the last quarter. Finally, Joel Isaacson & Co. LLC increased its holdings in shares of IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock worth $18,302,000 after purchasing an additional 359,327 shares during the period. Institutional investors own 88.90% of the company's stock.

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.