IAC (NASDAQ:IAC) Rating Increased to Hold at UBS Group

UBS Group upgraded shares of IAC (NASDAQ:IAC - Free Report) to a hold rating in a report published on Monday, Zacks.com reports.

IAC has been the subject of several other reports. Barclays decreased their price objective on shares of IAC from $73.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. KeyCorp decreased their price target on shares of IAC from $67.00 to $66.00 and set an "overweight" rating for the company in a report on Friday, August 16th. Citigroup decreased their price target on shares of IAC from $70.00 to $66.00 and set a "buy" rating for the company in a report on Thursday, August 8th. JMP Securities initiated coverage on shares of IAC in a research note on Tuesday, July 9th. They set an "outperform" rating and a $78.00 target price for the company. Finally, Truist Financial boosted their target price on shares of IAC from $87.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.40.

IAC Trading Down 0.7 %

Shares of IAC stock traded down $0.36 during mid-day trading on Monday, reaching $51.00. The company's stock had a trading volume of 750,405 shares, compared to its average volume of 656,197. The company's 50 day simple moving average is $52.35 and its 200-day simple moving average is $50.71. IAC has a 12-month low of $41.39 and a 12-month high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $4.10 billion, a PE ratio of -32.51 and a beta of 1.32.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.39). IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The firm had revenue of $949.50 million for the quarter, compared to analysts' expectations of $942.77 million. During the same period last year, the firm earned ($0.76) EPS. The business's quarterly revenue was down 14.6% on a year-over-year basis. On average, research analysts predict that IAC will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On IAC

Large investors have recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new position in IAC during the first quarter valued at approximately $575,000. Louisiana State Employees Retirement System purchased a new position in IAC during the second quarter valued at approximately $1,649,000. Highbridge Capital Management LLC grew its position in IAC by 70.4% in the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company's stock worth $7,746,000 after acquiring an additional 68,291 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company's stock worth $76,527,000 after purchasing an additional 79,951 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of IAC during the 1st quarter worth $11,460,000. 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.