IAC (NASDAQ:IAC) Sees Strong Trading Volume

IAC Inc. (NASDAQ:IAC) saw strong trading volume on Friday . 653,098 shares were traded during trading, an increase of 9% from the previous session’s volume of 597,730 shares.The stock last traded at $54.50 and had previously closed at $53.66.

Analyst Ratings Changes

A number of brokerages recently commented on IAC. Barclays lifted their target price on shares of IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Truist Financial raised their target price on IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. UBS Group increased their price target on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, KeyCorp cut their price objective on IAC from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.23.

IAC Trading Up 2.6 %

The business’s fifty day simple moving average is $51.47 and its two-hundred day simple moving average is $50.34. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 22.21 and a beta of 1.34.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.53). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. On average, equities analysts predict that IAC Inc. will post -2.02 EPS for the current year.

Institutional Trading of IAC

Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of IAC in the first quarter valued at about $27,000. Geneos Wealth Management Inc. purchased a new position in shares of IAC in the first quarter valued at $80,000. Spire Wealth Management raised its stake in shares of IAC by 23.1% during the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after buying an additional 303 shares during the last quarter. Covestor Ltd boosted its position in shares of IAC by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after buying an additional 286 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in IAC by 39.7% in the 3rd quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock valued at $136,000 after acquiring an additional 768 shares during the last quarter. 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.