IAC (NASDAQ:IAC) Given New $61.00 Price Target at Barclays

IAC (NASDAQ:IAC) had its price objective dropped by Barclays from $66.00 to $61.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 29.83% from the company’s previous close.

Several other analysts have also recently issued reports on IAC. KeyCorp cut their target price on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. JMP Securities reiterated a “market outperform” rating and set a $70.00 target price on shares of IAC in a research report on Monday, December 16th. Benchmark reiterated a “buy” rating and set a $110.00 target price on shares of IAC in a research report on Tuesday, November 12th. Truist Financial dropped their price target on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus target price of $64.33.

IAC Stock Performance

NASDAQ:IAC opened at $46.99 on Thursday. 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 has a 12-month low of $39.61 and a 12-month high of $58.29. The stock has a 50-day moving average price of $43.10 and a 200 day moving average price of $48.21. The stock has a market capitalization of $3.78 billion, a P/E ratio of -109.26 and a beta of 1.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its holdings in shares of IAC by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after acquiring an additional 320 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after acquiring an additional 405 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock valued at $27,000 after acquiring an additional 457 shares during the period. Victory Capital Management Inc. increased its holdings in shares of IAC by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after acquiring an additional 490 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after acquiring an additional 492 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Company Profile

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.