IAC (NASDAQ:IAC) Shares Gap Down Following Analyst Downgrade

IAC Inc. (NASDAQ:IAC - Get Free Report) gapped down before the market opened on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $60.00 to $46.00. The stock had previously closed at $35.35, but opened at $33.35. The Goldman Sachs Group currently has a buy rating on the stock. IAC shares last traded at $34.38, with a volume of 172,655 shares changing hands.

A number of other brokerages have also issued reports on IAC. JMP Securities lowered their target price on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a research note on Thursday, February 13th. Barclays dropped their target price on shares of IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday. UBS Group decreased their price target on shares of IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday. Benchmark dropped their price objective on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup decreased their target price on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, IAC currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Applied Fundamental Research LLC increased its position in shares of IAC by 12.1% during the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company's stock worth $17,955,000 after purchasing an additional 44,835 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in IAC in the fourth quarter worth about $595,000. Barclays PLC boosted its holdings in IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company's stock worth $3,268,000 after acquiring an additional 54,797 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of IAC by 4,238.5% during the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock worth $9,897,000 after acquiring an additional 224,131 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of IAC by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company's stock valued at $41,728,000 after acquiring an additional 19,148 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Stock Up 0.7 %

The stock has a market capitalization of $2.87 billion, a PE ratio of -5.68 and a beta of 1.24. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The company's 50-day moving average is $39.33 and its 200 day moving average is $43.46.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating analysts' consensus estimates of ($3.94) by $1.14. The firm had revenue of $570.49 million for the quarter, compared to analyst estimates of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The business's quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, analysts anticipate that IAC Inc. will post 0.43 EPS for the current year.

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.