Captrust Financial Advisors Invests $282,000 in IAC Inc. (NASDAQ:IAC)

Captrust Financial Advisors purchased a new stake in shares of IAC Inc. (NASDAQ:IAC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,233 shares of the company’s stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors have also modified their holdings of IAC. Greenwich Wealth Management LLC lifted its position in IAC by 3.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after purchasing an additional 284 shares during the period. Nisa Investment Advisors LLC lifted its holdings in IAC by 2.7% in the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after buying an additional 405 shares during the period. CWM LLC boosted its stake in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares during the last quarter. Victory Capital Management Inc. grew its holdings in IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after acquiring an additional 490 shares during the period. Finally, GAMMA Investing LLC grew its holdings in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Price Performance

IAC stock opened at $44.47 on Friday. The stock has a market cap of $3.58 billion, a PE ratio of -103.42 and a beta of 1.31. The stock has a 50-day moving average price of $49.88 and a two-hundred day moving average price of $50.03. IAC Inc. has a 1 year low of $43.51 and a 1 year high of $58.29. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted ($0.30) EPS. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. Equities analysts forecast that IAC Inc. will post -3.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on IAC shares. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. TD Cowen decreased their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. KeyCorp cut their price target on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. Finally, Benchmark reiterated a “buy” rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and an average price target of $69.00.

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.