Macquarie Reiterates “Outperform” Rating for IAC (NASDAQ:IAC)

Macquarie reissued their outperform rating on shares of IAC (NASDAQ:IAC) in a research report report published on Thursday morning,Benzinga reports. Macquarie currently has a $14.00 price objective on the stock.

IAC has been the subject of a number of other research reports. TD Cowen decreased their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial reduced their target price on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays dropped their price target on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday. Finally, Citigroup cut their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.91.

IAC Stock Down 1.8 %

Shares of IAC traded down $0.84 during trading hours on Thursday, hitting $46.14. The company had a trading volume of 326,550 shares, compared to its average volume of 663,009. IAC has a one year low of $43.51 and a one year high of $58.29. The company’s fifty day moving average price is $52.03 and its two-hundred day moving average price is $50.88. The company has a market capitalization of $3.71 billion, a PE ratio of -108.07 and a beta of 1.33. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The business had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same period in the previous year, the business earned ($0.30) EPS. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, equities analysts forecast that IAC will post -0.82 earnings per share for the current fiscal year.

Institutional Trading of IAC

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in IAC in the 2nd quarter valued at $39,000. GAMMA Investing LLC raised its position in IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the period. CWM LLC lifted its holdings in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of IAC in the second quarter valued at about $60,000. Finally, Innealta Capital LLC purchased a new stake in shares of IAC during the second quarter worth about $146,000. 88.90% of the stock is owned by institutional investors and hedge funds.

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.