Oppenheimer Asset Management Inc. Sells 3,537 Shares of IAC Inc. (NASDAQ:IAC)

Oppenheimer Asset Management Inc. trimmed its position in shares of IAC Inc. (NASDAQ:IAC) by 14.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,316 shares of the company’s stock after selling 3,537 shares during the period. Oppenheimer Asset Management Inc.’s holdings in IAC were worth $999,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Riverview Trust Co purchased a new position in IAC in the 1st quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new position in shares of IAC in the second quarter worth $39,000. CWM LLC lifted its holdings in shares of IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of IAC during the second quarter worth $60,000. Finally, Geneos Wealth Management Inc. purchased a new position in IAC during the first quarter valued at $80,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays decreased their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. KeyCorp cut their price target on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Truist Financial upped their price objective on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Citigroup cut their target price 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. Finally, Benchmark reiterated a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.40.

IAC Price Performance

IAC stock opened at $54.65 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. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $58.29. The stock has a market cap of $4.39 billion, a PE ratio of -34.59 and a beta of 1.32. The company has a 50-day moving average price of $50.95 and a 200 day moving average price of $50.57.

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

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.