IAC (NASDAQ:IAC) Given Market Outperform Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of IAC (NASDAQ:IAC) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $70.00 price target on the stock.

IAC has been the topic of a number of other reports. TD Cowen dropped their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Truist Financial decreased their price objective on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. Macquarie reaffirmed an “outperform” rating and set a $14.00 price objective on shares of IAC in a research report on Thursday, November 14th. Finally, KeyCorp dropped their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.33.

IAC Stock Up 0.7 %

Shares of NASDAQ IAC opened at $44.77 on Monday. IAC has a 52-week low of $43.51 and a 52-week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $49.74 and its two-hundred day moving average is $50.01. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -104.12 and a beta of 1.31.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) 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 company had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same period in the prior year, the business earned ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% on a year-over-year basis. Research analysts predict that IAC will post -3.97 EPS for the current year.

Institutional Trading of IAC

A number of large investors have recently made changes to their positions in IAC. Principal Financial Group Inc. raised its holdings in IAC by 5,474.2% in the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after buying an additional 337,268 shares during the period. DME Capital Management LP purchased a new stake in shares of IAC in the second quarter worth about $13,655,000. Bank of New York Mellon Corp grew its stake in shares of IAC by 113.4% in the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after buying an additional 282,304 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of IAC during the 2nd quarter valued at about $7,200,000. Finally, Marshall Wace LLP acquired a new position in IAC during the 2nd quarter worth approximately $5,644,000. Institutional investors and hedge funds 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.