IAC (NASDAQ:IAC) Sets New 12-Month Low – Time to Sell?

Shares of IAC Inc. (NASDAQ:IAC) 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. The stock had previously closed at $44.11.

Analyst Ratings Changes

Several research firms recently issued reports on IAC. JMP Securities reissued a “market outperform” rating and issued a $70.00 price target on shares of IAC in a research report on Monday. UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. TD Cowen lowered their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and cut their price target for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.33.

IAC Price Performance

The firm has a market cap of $3.40 billion, a PE ratio of -98.32 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The business’s fifty day moving average is $49.17 and its 200-day moving average is $49.86.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the previous year, the business earned ($0.30) EPS. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, research analysts predict that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IAC. International Assets Investment Management LLC bought a new stake in shares of IAC during the 2nd quarter valued at $39,000. GAMMA Investing LLC increased its position in shares of IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the period. Quarry LP lifted its holdings in shares of IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares in the last quarter. Innealta Capital LLC bought a new position in shares of IAC in the second quarter valued at approximately $146,000. Finally, Evergreen Capital Management LLC purchased a new position in IAC during the second quarter valued at approximately $208,000. Institutional investors own 88.90% of the company’s stock.

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.