IAC (NASDAQ:IAC) Stock Price Down 3.3% - Here's Why

IAC Inc. (NASDAQ:IAC - Get Free Report)'s share price fell 3.3% during mid-day trading on Tuesday . The company traded as low as $39.86 and last traded at $40.12. 146,722 shares traded hands during trading, a decline of 75% from the average session volume of 583,375 shares. The stock had previously closed at $41.49.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of IAC from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. TD Cowen dropped their price target on IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Macquarie restated an "outperform" rating and issued a $14.00 price objective on shares of IAC in a research note on Thursday, November 14th. KeyCorp decreased their target price on IAC from $66.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Finally, Piper Sandler lowered shares of 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 report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.50.

IAC Price Performance

The firm has a market capitalization of $3.35 billion, a PE ratio of -96.86 and a beta of 1.32. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $46.04 and a 200 day moving average price of $49.24.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company's quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. Equities analysts forecast that IAC Inc. will post -3.97 EPS for the current fiscal year.

Institutional Trading of IAC

A number of hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC grew its holdings in shares of IAC by 581.3% in the third quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company's stock valued at $5,291,000 after purchasing an additional 83,878 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of IAC by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company's stock valued at $51,027,000 after buying an additional 52,271 shares during the period. Royce & Associates LP increased its holdings in shares of IAC by 5.1% during the 3rd quarter. Royce & Associates LP now owns 278,679 shares of the company's stock worth $14,999,000 after buying an additional 13,400 shares during the last quarter. Highbridge Capital Management LLC raised its position in shares of IAC by 70.4% during the 2nd quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company's stock valued at $7,746,000 after buying an additional 68,291 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in IAC by 15.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company's stock valued at $17,990,000 after acquiring an additional 44,000 shares during the last quarter. Institutional investors and hedge funds 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.