Trump announces trade deal with EU following months of negotiations
In a challenging market environment, IAC/InterActiveCorp (NASDAQ: NASDAQ:IAC) stock has reached its 52-week low, dipping to $38.0. According to InvestingPro data, this represents a significant discount to the stock’s Fair Value, suggesting potential upside for value investors. The media and internet company, known for its diverse portfolio of brands and products, has faced headwinds that have pressured the stock downward, reflecting a broader trend in the tech sector. While the company maintains a healthy current ratio of 2.8 and operates with moderate debt levels, its performance metrics show some challenges, with a -14.02% total return over the past year. Investors are closely monitoring the company’s performance and strategic initiatives as it navigates through the current market conditions, with analysts projecting a return to profitability this year despite recent headwinds. Get deeper insights and access to comprehensive analysis with InvestingPro’s detailed research reports.
In other recent news, IAC Inc. has completed the spin-off of Angi Inc., distributing Angi Class A common stock to its shareholders as a special dividend. This strategic move is aimed at enhancing operational flexibility for both entities. Additionally, JPMorgan has upgraded IAC’s stock to an Overweight rating with a $60 price target, highlighting the potential value unlocked by the spin-off and the healthy growth of Dotdash Meredith (NYSE:MDP). Citi also maintains a Buy rating on IAC with a $58 target, emphasizing the attractiveness of IAC’s remaining assets and the value of Dotdash Meredith.
Furthermore, IAC announced a temporary trading blackout period for its employee benefit plans, linked to the spin-off of Angi Inc. The blackout is necessary to facilitate the creation of a new stock fund for Angi. In related developments, Angi Inc. is set to replace The ODP Corp. in the S&P SmallCap 600 index, reflecting its new status post-spin-off. These changes are part of administrative updates by S&P Dow Jones Indices, which can influence stock demand.
The spin-off and index inclusion mark significant milestones for IAC and Angi as they continue their separate paths. Investors are advised to consider these developments and the potential implications for IAC’s portfolio and future growth.
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