IAC (NASDAQ:IAC) Given New $49.00 Price Target at KeyCorp

IAC (NASDAQ:IAC) had its price objective trimmed by KeyCorp from $64.00 to $49.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer decreased their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Benchmark decreased their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Truist Financial cut their price objective on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Citigroup reduced their target price on shares of IAC from $47.55 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their price target on IAC from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

IAC Stock Performance

IAC stock opened at $35.35 on Monday. The stock has a fifty day moving average price of $40.12 and a 200 day moving average price of $43.80. IAC has a 52 week low of $32.05 and a 52 week high of $58.29. The firm has a market capitalization of $2.74 billion, a P/E ratio of -5.42 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Asset Value Investors Ltd bought a new position in shares of IAC during the fourth quarter worth about $39,872,000. Corvex Management LP raised its stake in IAC by 61.8% during the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company’s stock valued at $103,983,000 after buying an additional 920,875 shares in the last quarter. Norges Bank bought a new position in IAC during the 4th quarter worth approximately $38,817,000. Southeastern Asset Management Inc. TN grew its position in shares of IAC by 21.3% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company’s stock worth $118,719,000 after acquiring an additional 483,613 shares in the last quarter. Finally, Joel Isaacson & Co. LLC increased its holdings in shares of IAC by 553.6% in the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock valued at $18,302,000 after acquiring an additional 359,327 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors.

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.