IAC (NASDAQ:IAC) Shares Up 5.3% – Still a Buy?

IAC Inc. (NASDAQ:IAC) shot up 5.3% on Monday . The stock traded as high as $47.15 and last traded at $46.94. 88,377 shares were traded during trading, a decline of 88% from the average session volume of 740,975 shares. The stock had previously closed at $44.56.

Analysts Set New Price Targets

Several research firms recently weighed in on IAC. Citigroup raised their price objective on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. JMP Securities cut their price objective on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Oppenheimer cut their price objective on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Barclays cut their price objective on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial cut their target price on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.67.

IAC Stock Performance

The company has a 50-day moving average price of $43.83 and a two-hundred day moving average price of $47.37. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.64 billion, a P/E ratio of -7.20 and a beta of 1.29.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Atria Investments Inc increased its position in IAC by 15.8% in the 3rd quarter. Atria Investments Inc now owns 5,444 shares of the company’s stock valued at $293,000 after buying an additional 743 shares in the last quarter. Victory Capital Management Inc. increased its position in 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 buying an additional 490 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in IAC by 2.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,913 shares of the company’s stock valued at $1,179,000 after buying an additional 597 shares in the last quarter. Natixis Advisors LLC increased its position in IAC by 1.5% in the 3rd quarter. Natixis Advisors LLC now owns 83,100 shares of the company’s stock valued at $4,472,000 after buying an additional 1,199 shares in the last quarter. Finally, Quest Partners LLC increased its position in IAC by 2,546.5% in the 3rd quarter. Quest Partners LLC now owns 21,701 shares of the company’s stock valued at $1,168,000 after buying an additional 20,881 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

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.