IAC (NASDAQ:IAC) Sets New 52-Week Low – Time to Sell?

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IAC. TD Cowen cut their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Tuesday, November 12th. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. Truist Financial reduced 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, Macquarie reissued an “outperform” rating and set a $14.00 price objective on shares of IAC in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.50.

IAC Price Performance

The firm has a 50 day moving average price of $46.20 and a 200-day moving average price of $49.26. The firm has a market capitalization of $3.32 billion, a P/E ratio of -95.83 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted 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). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same quarter last year, the firm earned ($0.30) EPS. The company’s revenue was down 15.5% on a year-over-year basis. On average, analysts expect that IAC Inc. will post -3.97 earnings per share for the current year.

Institutional Investors Weigh In On IAC

A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in IAC by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after buying an additional 66,347 shares during the period. State Street Corp raised its stake in IAC by 1.2% in the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after buying an additional 28,577 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after buying an additional 79,951 shares during the period. Geode Capital Management LLC boosted its position in IAC by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after acquiring an additional 25,909 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of IAC by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after acquiring an additional 52,271 shares during the period. 88.90% of the stock is owned by institutional investors.

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.