IAC (NASDAQ:IAC) Shares Gap Up to $47.85

IAC Inc. (NASDAQ:IAC) gapped up before the market opened on Thursday . The stock had previously closed at $47.85, but opened at $52.16. IAC shares last traded at $51.60, with a volume of 674,466 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IAC shares. Barclays lifted their price objective on IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. KeyCorp decreased their price objective on IAC from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group boosted their target price on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, Truist Financial boosted their target price on IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $78.23.

IAC Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36. The firm’s 50-day moving average is $51.50 and its two-hundred day moving average is $50.29. The stock has a market cap of $4.42 billion, a P/E ratio of 22.21 and a beta of 1.34.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. On average, equities research analysts anticipate that IAC Inc. will post -2.02 earnings per share for the current year.

Institutional Trading of IAC

Institutional investors and hedge funds have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in shares of IAC during the 1st quarter valued at $27,000. Geneos Wealth Management Inc. bought a new stake in shares of IAC during the 1st quarter valued at $80,000. Spire Wealth Management raised its position in shares of IAC by 23.1% during the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after acquiring an additional 303 shares during the last quarter. Covestor Ltd raised its position in shares of IAC by 15.4% during the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after acquiring an additional 286 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in shares of IAC by 39.7% in the 3rd quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock valued at $136,000 after buying an additional 768 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

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.