IAC (NASDAQ:IAC) Trading Up 9%

IAC Inc. (NASDAQ:IAC) shares rose 9% on Wednesday . The company traded as high as $49.70 and last traded at $49.69. Approximately 137,182 shares were traded during trading, a decline of 81% from the average daily volume of 725,287 shares. The stock had previously closed at $45.60.

Analyst Upgrades and Downgrades

IAC has been the subject of a number of recent research reports. StockNews.com cut IAC from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. KeyCorp raised their price target on IAC from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Wells Fargo & Company boosted their price objective on IAC from $82.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Citigroup reduced their target price on shares of IAC from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Barclays increased their price objective on shares of IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.25.

IAC Stock Up 9.1 %

The stock’s fifty day simple moving average is $48.62 and its 200-day simple moving average is $51.04. The stock has a market cap of $4.00 billion, a P/E ratio of -31.37 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.70.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.21. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. The business had revenue of $929.68 million during the quarter, compared to the consensus estimate of $937.68 million. As a group, research analysts forecast that IAC Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAC

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in shares of IAC in the 4th quarter valued at $2,579,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of IAC by 48.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,420 shares of the company’s stock valued at $3,793,000 after purchasing an additional 23,531 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of IAC by 33.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 5,644 shares of the company’s stock valued at $296,000 after purchasing an additional 1,427 shares in the last quarter. WCM Investment Management LLC grew its stake in IAC by 9.5% during the fourth quarter. WCM Investment Management LLC now owns 295,871 shares of the company’s stock worth $15,758,000 after purchasing an additional 25,704 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in IAC by 15.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,678 shares of the company’s stock worth $874,000 after purchasing an additional 2,262 shares in the last quarter. 88.90% of the stock is currently 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.