JMP Securities Begins Coverage on IAC (NASDAQ:IAC)

JMP Securities started coverage on shares of IAC (NASDAQ:IAC) in a research note released on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $78.00 target price on the stock.

A number of other analysts also recently commented on the stock. StockNews.com downgraded shares of IAC from a buy rating to a hold rating in a report on Saturday, May 18th. KeyCorp increased their price objective on shares of IAC from $64.00 to $67.00 and gave the company an overweight rating in a report on Monday, May 13th. Wells Fargo & Company increased their price objective on shares of IAC from $82.00 to $84.00 and gave the company an overweight rating in a report on Tuesday, May 14th. Barclays increased their price objective on shares of IAC from $72.00 to $73.00 and gave the company an overweight rating in a report on Thursday, May 9th. Finally, Oppenheimer raised their price target on shares of IAC from $65.00 to $75.00 and gave the stock an outperform rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $79.77.

IAC Stock Up 2.8 %

IAC opened at $48.85 on Tuesday. IAC has a twelve month low of $41.39 and a twelve month high of $69.85. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $49.96 and a 200 day moving average price of $51.24. The company has a market cap of $3.92 billion, a PE ratio of -30.92 and a beta of 1.32.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.21. The company had revenue of $929.68 million during the quarter, compared to the consensus estimate of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. Sell-side analysts expect that IAC will post 0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of hedge funds have recently made changes to their positions in the stock. Parkside Investments LLC boosted its position in shares of IAC by 2.3% during the 2nd quarter. Parkside Investments LLC now owns 209,499 shares of the company’s stock worth $9,815,000 after purchasing an additional 4,645 shares during the period. CWM LLC boosted its position in shares of IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after purchasing an additional 408 shares during the period. Investment Partners Asset Management Inc. boosted its position in shares of IAC by 34.3% during the 2nd quarter. Investment Partners Asset Management Inc. now owns 10,179 shares of the company’s stock worth $477,000 after purchasing an additional 2,599 shares during the period. Tandem Capital Management Corp ADV boosted its position in shares of IAC by 0.6% during the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock worth $2,192,000 after purchasing an additional 260 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of IAC by 4.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 229,392 shares of the company’s stock worth $12,236,000 after purchasing an additional 10,168 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

About IAC

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.