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

IAC Inc. (NASDAQ:IAC) shares gapped up prior to trading 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 trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IAC shares. Barclays lifted their price target on shares of IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Truist Financial upped their target price on IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. KeyCorp boosted their price objective on IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Finally, UBS Group increased their target price on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.69.

IAC Trading Up 8.4 %

The firm has a market capitalization of $4.17 billion, a PE ratio of 20.99 and a beta of 1.34. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. The company’s 50-day simple moving average is $51.59 and its 200 day simple moving average is $50.26.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). IAC had a net margin of 6.09% and a negative return on equity of 4.15%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, sell-side analysts expect that IAC Inc. will post -2.02 EPS for the current year.

Hedge Funds Weigh In On IAC

Hedge funds have recently made changes to their positions in the company. Parkside Investments LLC boosted its holdings in shares of IAC by 13.8% in the 4th quarter. Parkside Investments LLC now owns 176,269 shares of the company’s stock valued at $9,233,000 after acquiring an additional 21,400 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of IAC by 66.6% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock valued at $52,124,000 after buying an additional 413,440 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of IAC during the 4th quarter valued at about $2,579,000. Citigroup Inc. lifted its holdings in shares of IAC by 9.4% in the 3rd quarter. Citigroup Inc. now owns 15,286 shares of the company’s stock valued at $770,000 after buying an additional 1,315 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of IAC by 70.9% in the third quarter. Envestnet Asset Management Inc. now owns 160,154 shares of the company’s stock worth $8,070,000 after buying an additional 66,427 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

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.