IAC (NASDAQ:IAC) Sees Strong Trading Volume

IAC Inc. (NASDAQ:IAC) shares saw unusually-high trading volume on Friday . Approximately 653,098 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 597,730 shares.The stock last traded at $54.50 and had previously closed at $53.66.

Wall Street Analyst Weigh In

IAC has been the topic of several recent research reports. UBS Group lifted 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. Barclays raised their price target on shares of IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. KeyCorp cut their price target on shares of IAC from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Truist Financial raised their target price on IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.23.

IAC Stock Up 2.6 %

The company has a fifty day moving average price of $51.50 and a 200 day moving average price of $50.29. The company has a market cap of $4.42 billion, a PE ratio of 22.21 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36.

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 net margin of 6.09% and a negative return on equity of 4.15%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, analysts anticipate that IAC Inc. will post -2.02 EPS for the current year.

Institutional Trading of IAC

Hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP increased its stake in IAC by 258.6% during the 1st quarter. GSA Capital Partners LLP now owns 51,434 shares of the company’s stock valued at $2,743,000 after purchasing an additional 37,089 shares in the last quarter. FORA Capital LLC purchased a new position in IAC in the 1st quarter worth approximately $478,000. Capstone Investment Advisors LLC lifted its position in IAC by 209.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 12,354 shares of the company’s stock valued at $659,000 after acquiring an additional 8,365 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of IAC by 14.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,367 shares of the company’s stock worth $606,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of IAC by 32.1% in the first quarter. Principal Financial Group Inc. now owns 6,161 shares of the company’s stock worth $329,000 after purchasing an additional 1,497 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other 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.