IAC (NASDAQ:IAC) Hits New 12-Month Low – Here’s Why

IAC Inc. (NASDAQ:IAC)’s stock price hit a new 52-week low on Monday . The stock traded as low as $33.13 and last traded at $33.32, with a volume of 89157 shares traded. The stock had previously closed at $35.47.

Analyst Ratings Changes

A number of analysts have recently issued reports on IAC shares. Truist Financial lowered their price objective on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Citigroup increased their price objective on shares of IAC from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 31st. 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, February 13th. KeyCorp increased their price target on shares of IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, JMP Securities lowered their price objective on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.31.

IAC Stock Performance

The stock has a 50 day moving average price of $44.64 and a two-hundred day moving average price of $46.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -5.24 and a beta of 1.24.

Institutional Investors Weigh In On IAC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its holdings in shares of IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock valued at $31,000 after purchasing an additional 369 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of IAC in the 4th quarter valued at $439,000. Asset Value Investors Ltd bought a new stake in shares of IAC during the fourth quarter worth $39,872,000. Jefferies Financial Group Inc. acquired a new position in shares of IAC during the fourth quarter valued at $276,000. Finally, Poehling Capital Management INC. bought a new position in IAC in the fourth quarter valued at about $1,255,000. 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.