Truist Financial Lowers IAC (NASDAQ:IAC) Price Target to $76.00

IAC (NASDAQ:IAC) had its price target decreased by Truist Financial from $80.00 to $76.00 in a report issued on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts have also commented on the company. Benchmark reiterated a “buy” rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Citigroup increased their price target on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 target price on shares of IAC in a research report on Monday, December 16th. Finally, UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, IAC has an average rating of “Moderate Buy” and an average target price of $64.33.

IAC Stock Performance

Shares of IAC opened at $46.99 on Thursday. IAC has a 1 year low of $39.61 and a 1 year high of $58.29. The company’s 50 day simple moving average is $43.08 and its 200 day simple moving average is $48.18. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.26 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75.

Hedge Funds Weigh In On IAC

Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its holdings in IAC by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after acquiring an additional 320 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of IAC by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after purchasing an additional 405 shares during the last quarter. Aster Capital Management DIFC Ltd grew its stake in IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares in the last quarter. Victory Capital Management Inc. raised its stake in IAC by 1.6% during the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after buying an additional 490 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares in the last quarter. 88.90% of the stock is currently 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.