840 Shares in IAC Inc. (NASDAQ:IAC) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in IAC Inc. (NASDAQ:IAC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 840 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds also recently added to or reduced their stakes in IAC. Norges Bank purchased a new stake in shares of IAC during the fourth quarter worth approximately $39,426,000. Teachers Retirement System of The State of Kentucky raised its position in IAC by 12.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company’s stock worth $11,483,000 after buying an additional 24,589 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of IAC in the 1st quarter worth $575,000. Patient Capital Management LLC boosted its holdings in shares of IAC by 7.7% in the fourth quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company’s stock valued at $71,600,000 after acquiring an additional 97,938 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of IAC during the second quarter worth about $1,649,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays reduced their price objective on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, August 27th. Truist Financial increased their price objective on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. StockNews.com lowered shares of IAC from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Finally, Citigroup cut their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

IAC Price Performance

Shares of NASDAQ IAC opened at $51.63 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $49.96 and its 200 day moving average price is $50.91. IAC Inc. has a 52 week low of $41.39 and a 52 week high of $58.29. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of -32.68 and a beta of 1.32.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.39). IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The business had revenue of $949.50 million during the quarter, compared to analyst estimates of $942.77 million. During the same quarter in the prior year, the company earned ($0.76) earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, research analysts forecast that IAC Inc. will post -0.79 earnings per share for the current fiscal year.

IAC 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.