Reflecting the broader market trends and internal challenges, IAC's stock has seen a significant downturn, with a 1-year change showing a decline of 16.07%. Investors are closely monitoring the company's performance and strategic moves as it navigates through the current economic landscape. InvestingPro analysis suggests the stock is currently undervalued, with multiple analysts maintaining coverage of the company. Get access to detailed valuation metrics and 8 additional ProTips by subscribing to InvestingPro's comprehensive research platform. InvestingPro analysis suggests the stock is currently undervalued, with multiple analysts maintaining coverage of the company. Get access to detailed valuation metrics and 8 additional ProTips by subscribing to InvestingPro's comprehensive research platform. Reflecting the broader market trends and internal challenges, IAC's stock has seen a significant downturn, with a 1-year change showing a decline of 16.07%. Investors are closely monitoring the company's performance and strategic moves as it navigates through the current economic landscape.
In other recent news, Match Group (NASDAQ:MTCH) has initiated a quarterly dividend program and announced a $1.5 billion share buyback authorization. The company has declared a cash dividend of $0.19 per share and plans to continue this quarterly dividend, subject to market conditions and board approval. In addition to the dividend, Match Group's Board of Directors has authorized a share repurchase program of up to $1.5 billion in common stock.
Meanwhile, IAC Inc. reported a slight surpass in third-quarter revenue estimates, primarily due to performance in its Search, Dotdash, and Emerging segments. The company's EBITDA for the quarter was reported to be 10% higher than consensus. IAC and its subsidiary, Dotdash Meredith (NYSE:MDP) Inc., have successfully amended their credit agreement with JPMorgan Chase (NYSE:JPM) Bank, N.A., resulting in reduced interest rates for term loans.
In analyst notes, Piper Sandler downgraded IAC's rating to neutral and reduced its price target to $54, while TD Cowen revised its price target for IAC to $77 from the previous $82, maintaining a Buy rating. These recent developments reflect the ongoing strategic and financial adjustments within both Match Group and IAC Inc.
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