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

IAC Inc. (NASDAQ:IAC)’s share price 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 traded.

Analyst Ratings Changes

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

IAC Stock Up 8.4 %

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

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

Institutional Trading of IAC

A number of institutional investors have recently modified their holdings of IAC. Riverview Trust Co acquired a new stake in shares of IAC during the 1st quarter worth approximately $27,000. Spire Wealth Management boosted its stake in IAC by 23.1% in the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after buying an additional 303 shares in the last quarter. Covestor Ltd raised its stake in IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after acquiring an additional 286 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of IAC by 39.7% in the third quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock worth $136,000 after acquiring an additional 768 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of IAC in the 3rd quarter valued at approximately $201,000. 88.90% of the stock is currently owned by institutional investors.

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.