IAC (NASDAQ:IAC) Given Sell (D-) Rating at Weiss Ratings

IAC (NASDAQ:IAC - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the company. JMP Securities reduced their price target on IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a research report on Tuesday, June 10th. Wall Street Zen raised IAC from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. KeyCorp reduced their price target on IAC from $49.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Benchmark reduced their price target on IAC from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Truist Financial reduced their price target on IAC from $61.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, IAC currently has a consensus rating of "Moderate Buy" and an average price target of $47.92.

IAC Stock Down 0.4%

NASDAQ:IAC opened at $33.33 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. The company has a market cap of $2.48 billion, a PE ratio of -6.18 and a beta of 1.23. IAC has a 52-week low of $32.04 and a 52-week high of $55.16. The stock has a 50-day simple moving average of $35.72 and a 200 day simple moving average of $37.05.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $2.87. The business had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.IAC's quarterly revenue was down 7.5% on a year-over-year basis. During the same period last year, the company earned ($1.71) earnings per share. On average, sell-side analysts expect that IAC will post 0.43 EPS for the current fiscal year.

Institutional Trading of IAC

A number of hedge funds have recently made changes to their positions in IAC. Helikon Investments Ltd acquired a new stake in shares of IAC in the second quarter valued at approximately $76,056,000. Burgundy Asset Management Ltd. acquired a new stake in shares of IAC in the first quarter valued at approximately $66,556,000. JPMorgan Chase & Co. lifted its position in shares of IAC by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company's stock valued at $245,284,000 after buying an additional 1,117,313 shares during the last quarter. Norges Bank bought a new position in shares of IAC during the second quarter worth approximately $31,025,000. Finally, AQR Capital Management LLC increased its stake in shares of IAC by 422.9% during the first quarter. AQR Capital Management LLC now owns 875,820 shares of the company's stock worth $40,025,000 after purchasing an additional 708,332 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

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.

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