IAC (NASDAQ:IAC) Trading Up 7.3% – What’s Next?

Shares of IAC Inc. (NASDAQ:IAC) shot up 7.3% on Thursday . The stock traded as high as $46.66 and last traded at $46.57. 531,196 shares were traded during trading, a decline of 28% from the average session volume of 738,333 shares. The stock had previously closed at $43.39.

Wall Street Analyst Weigh In

Several research firms have weighed in on IAC. Oppenheimer lowered their price objective on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday. JMP Securities reduced their target price on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a report on Thursday. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. UBS Group reduced their target price on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Truist Financial reduced their target price on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

IAC Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company has a market capitalization of $3.78 billion, a P/E ratio of -109.26 and a beta of 1.32. The business has a 50 day moving average of $43.08 and a 200-day moving average of $48.18.

Hedge Funds Weigh In On IAC

Hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd boosted 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 worth $27,000 after purchasing an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of IAC in the 4th quarter worth about $41,000. Quarry LP boosted its holdings in shares of IAC by 408.9% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after purchasing an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after purchasing an additional 1,916 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of IAC in the 4th quarter worth about $135,000. 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.