IAC (NASDAQ:IAC) Announces Quarterly Earnings Results, Misses Estimates By $1.66 EPS

IAC (NASDAQ:IAC) posted its quarterly earnings results on Tuesday. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66), FiscalAI reports. The business had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.

IAC Price Performance

Shares of NASDAQ IAC traded down $0.23 during trading on Tuesday, reaching $36.79. The company had a trading volume of 1,439,560 shares, compared to its average volume of 903,704. IAC has a 52 week low of $29.56 and a 52 week high of $50.49. The business’s 50 day moving average price is $38.44 and its 200-day moving average price is $36.35. The stock has a market cap of $2.64 billion, a PE ratio of -13.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IAC shares. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a research note on Saturday, January 24th. UBS Group dropped their target price on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Truist Financial lowered their price target on IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Barclays cut their price objective on IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in shares of IAC in the 3rd quarter valued at $38,000. Geneos Wealth Management Inc. increased its holdings in shares of IAC by 96.2% in the second quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock worth $114,000 after acquiring an additional 1,500 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in shares of IAC in the third quarter worth about $113,000. United Services Automobile Association acquired a new stake in shares of IAC during the first quarter worth about $207,000. Finally, Focus Partners Wealth bought a new position in shares of IAC during the 1st quarter valued at about $270,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data?driven journalism across more than a dozen specialty sites.