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

Shares of IAC Inc. (NASDAQ:IAC) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $40.91 and last traded at $41.00, with a volume of 55208 shares. The stock had previously closed at $41.69.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IAC shares. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. Barclays lowered their price target on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. Truist Financial cut their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Citigroup reduced their price target on shares of IAC from $60.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.50.

IAC Stock Performance

The business has a 50 day moving average price of $46.35 and a 200 day moving average price of $49.28. 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 stock has a market capitalization of $3.32 billion, a PE ratio of -95.88 and a beta of 1.32.

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

Hedge Funds Weigh In On IAC

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its position in shares of IAC by 25.0% in the second quarter. Commonwealth Equity Services LLC now owns 14,212 shares of the company’s stock valued at $666,000 after acquiring an additional 2,845 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of IAC by 123.1% in the second quarter. Rhumbline Advisers now owns 176,456 shares of the company’s stock worth $8,267,000 after buying an additional 97,378 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of IAC by 42.0% during the second quarter. Victory Capital Management Inc. now owns 31,196 shares of the company’s stock worth $1,462,000 after acquiring an additional 9,221 shares during the last quarter. Arizona State Retirement System grew its stake in IAC by 3.8% during the second quarter. Arizona State Retirement System now owns 21,687 shares of the company’s stock valued at $1,016,000 after acquiring an additional 784 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in IAC in the 2nd quarter valued at $3,945,000. Hedge funds and other 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.