IAC (NASDAQ:IAC) Given New $54.00 Price Target at UBS Group

IAC (NASDAQ:IAC - Free Report) had its target price cut by UBS Group from $55.00 to $54.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

IAC has been the topic of several other reports. Truist Financial decreased their price objective on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday. KeyCorp decreased their target price on shares of IAC from $66.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. Barclays decreased their target price on shares of IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday. TD Cowen decreased their price objective on IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. Finally, Piper Sandler downgraded IAC from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.33.

IAC Price Performance

IAC stock traded down $0.99 during mid-day trading on Thursday, hitting $46.99. The company had a trading volume of 2,032,766 shares, compared to its average volume of 620,041. 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 company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.26 and a beta of 1.32. IAC has a 12-month low of $39.61 and a 12-month high of $58.29. The company has a 50-day moving average price of $43.08 and a 200 day moving average price of $48.12.

Institutional Investors Weigh In On IAC

Large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC boosted 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. lifted its holdings 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 worth $51,027,000 after buying an additional 52,271 shares during the period. Royce & Associates LP grew its position 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 in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of IAC by 15.2% during 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 buying an additional 44,000 shares in the last quarter. Finally, Barclays PLC grew its position 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 buying an additional 54,797 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

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.