Entropy Technologies LP Invests $338,000 in IAC Inc. (NASDAQ:IAC)

Entropy Technologies LP bought a new stake in shares of IAC Inc. (NASDAQ:IAC) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 6,289 shares of the company’s stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in shares of IAC during the second quarter valued at about $39,000. GAMMA Investing LLC boosted its holdings in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after purchasing an additional 492 shares during the last quarter. CWM LLC grew its stake in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in IAC during the 2nd quarter worth approximately $60,000. Finally, Innealta Capital LLC acquired a new position in shares of IAC in the 2nd quarter valued at approximately $146,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays dropped their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday. Benchmark restated a “buy” rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. Truist Financial reduced their target price on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Citigroup lowered their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and a consensus target price of $70.91.

IAC Stock Down 0.1 %

IAC stock opened at $46.95 on Friday. The stock has a market cap of $3.78 billion, a PE ratio of -109.18 and a beta of 1.33. The firm’s 50-day simple moving average is $51.97 and its 200 day simple moving average is $50.87. IAC Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same quarter in the previous year, the business posted ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that IAC Inc. will post -0.82 EPS for the current year.

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.