IAC (NASDAQ:IAC) Sets New 52-Week High – What’s Next?

Shares of IAC Inc. (NASDAQ:IAC) hit a new 52-week high on Monday . The stock traded as high as $44.48 and last traded at $44.3160, with a volume of 1331616 shares traded. The stock had previously closed at $44.36.

Wall Street Analyst Weigh In

IAC has been the topic of several research reports. Citigroup raised their price target on IAC from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. Needham & Company LLC set a $57.00 price objective on shares of IAC in a report on Tuesday, March 3rd. Finally, Benchmark reissued a “buy” rating on shares of IAC in a research note on Tuesday, March 3rd. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.62.

IAC Price Performance

The firm has a market capitalization of $3.16 billion, a P/E ratio of -33.44 and a beta of 1.06. The stock’s fifty day simple moving average is $38.38 and its 200 day simple moving average is $36.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.66). The firm had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The company’s revenue was down 34.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.39) EPS. On average, equities research analysts predict that IAC Inc. will post 0.43 EPS for the current year.

Institutional Trading of IAC

Institutional investors have recently made changes to their positions in the business. Permanent Capital Management LP purchased a new stake in IAC in the third quarter valued at about $1,732,000. AlphaQuest LLC grew its stake in shares of IAC by 1,127.5% during the third quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock worth $1,406,000 after acquiring an additional 37,896 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of IAC by 8.7% during the third quarter. Public Sector Pension Investment Board now owns 504,604 shares of the company’s stock valued at $17,192,000 after acquiring an additional 40,468 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of IAC during the third quarter valued at about $6,050,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of IAC in the 3rd quarter valued at approximately $875,000. 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.