IAC (NASDAQ:IAC) Sets New 1-Year Low – Should You Sell?

IAC Inc. (NASDAQ:IAC)’s share price reached a new 52-week low on Wednesday . The company traded as low as $43.20 and last traded at $43.23, with a volume of 365318 shares trading hands. The stock had previously closed at $44.11.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IAC. UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. JMP Securities reiterated a “market outperform” rating and set a $70.00 target price on shares of IAC in a research report on Monday. Macquarie reiterated an “outperform” rating and set a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Truist Financial decreased their target price on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, KeyCorp decreased their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Three 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 currently has an average rating of “Moderate Buy” and an average price target of $68.33.

IAC Stock Performance

The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -98.16 and a beta of 1.31. The stock has a fifty day moving average price of $49.59 and a two-hundred day moving average price of $49.97. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

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

Hedge Funds Weigh In On IAC

Several institutional investors have recently added to or reduced their stakes in the business. Greenwich Wealth Management LLC increased its stake in IAC by 3.0% in the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after purchasing an additional 284 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in IAC by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after acquiring an additional 405 shares during the last quarter. CWM LLC raised its holdings in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after purchasing an additional 408 shares during the period. Victory Capital Management Inc. raised its holdings in shares of IAC by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after purchasing an additional 490 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

About IAC

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.