IAC (NASDAQ:IAC) Shares Gap Up – Here’s Why

IAC Inc. (NASDAQ:IAC)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $41.00, but opened at $42.60. IAC shares last traded at $43.54, with a volume of 459,624 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Benchmark restated a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. KeyCorp dropped their price target on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Citigroup upped their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. Finally, Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.67.

IAC Trading Up 5.2 %

The business has a 50 day simple moving average of $43.18 and a two-hundred day simple moving average of $48.25. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -100.35 and a beta of 1.32.

IAC (NASDAQ:IAC) last issued 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 business had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same quarter last year, the business earned ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that IAC Inc. will post -3.97 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in IAC during the 4th quarter worth approximately $41,000. GAMMA Investing LLC lifted its holdings in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares during the last quarter. Quarry LP lifted its holdings in IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted 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 during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock worth $139,000 after purchasing an additional 3,079 shares during the last quarter. 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.